The round has also been backed by venture capital firm Prelude Ventures. One of the company’s new investors, PinnacleWest, is the holding company of Arizona Public Service, an EnergySavvy customer since 2013.
EnergySavvy said that its customer base that includes electric and gas utilities as well as statewide energy efficiency programmes is showing rapid growth.
EnerTech director Dean Sciorillo said, “We believe we are at a point now where energy efficiency and customer engagement are critically important for utilities as they plan for the future.
“The team at EnergySavvy is enabling utilities to connect with and engage customers to make meaningful and appropriate energy improvements that result in successful programs that build lasting, trusted relationships.
Last September EnerTech closed its fourth fund with commitments of $120m.
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