Parity closed $19M Series B raise led by Idealist Capital to expand geographic presence and target new verticals.

Jun 11, 2024•over 1 year ago

Amount Raised

$19 Million

Round Type

series b

TorontoSoftwareEnergy

Investors

Ret VenturesWyse Meter SolutionsArc Tern VenturesIdealist Capital

Description

Parity, a remote platform for multifamily and hospitality HVAC management, closed a $19 million Series B raise led by Idealist Capital. The funding will enable the company to focus on geographic expansion across the United States and target new verticals, including senior and student housing.

Company Information

Company

Parity

Location

Toronto, Ontario, Canada

About

Parity is a remote HVAC Optimization as a Service company. Our software delivers guaranteed utility cost savings and revenue from grid services to multifamily residential buildings and hotels. We remotely control and optimize HVAC systems to deliver energy-efficient levels of heating, ventilation, and cooling 24/7/365. As energy efficiency and GHG emissions regulations tighten, Parity opens new, low-cost opportunities for compliance and access to incentive programs.

Related People

2 contacts

Funding Insights

Based on industry data

VC-backed spending patterns

VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers

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