EnergyCAP, which makes utility and energy management software, has taken a strategic investment from LLR Partners, a lower middle market private equity firm. Resurgens Technology Partners, an existing investor, stays on. The terms weren’t disclosed.
EnergyCAP pulls utility bills, energy use and emissions data into one platform and uses automation and AI to help organizations cut costs and make better decisions. More than 750 organizations use it across government, education, healthcare and commercial real estate. Together they run over $50 billion a year in utility bills through the system.
A big cost still living in spreadsheets
“Utility spend is one of the largest operating expenses that many organizations still manage in spreadsheets,” says CEO Shawn Lankton. For a school district or a hospital network, that means thousands of bills from dozens of providers, each with its own rates and meter data. Billing errors and waste go unnoticed. So does a building quietly using twice what it should.
The timing works in EnergyCAP’s favor. US power prices are climbing as data centers compete for supply. Emissions reporting rules keep adding work. Organizations that could once shrug off their utility bill now have to manage it line by line.
What the money does
The investment will speed up EnergyCAP’s product roadmap and widen its market reach. Alexandra Van Arkel, vice president at LLR, says the company “sits at the center of our Industrial Technology thesis around the complexity of managing physical spaces.” Adi Filipovic, managing director at Resurgens, says there is “significant opportunity still ahead” as EnergyCAP scales.