Redaptive Closes Next Phase of Series E Funding Round with Further Investment from Linse Capital

Rhea-AI Summary

Redaptive, a provider of Energy-as-a-Service solutions, has received an additional investment in its series E funding round from Linse Capital. The funding brings the total amount raised for this round to approximately $250 million. Redaptive aims to expand its offerings and support more customers in the energy efficiency and sustainability space.

Positive

• Redaptive secures additional investment of approximately $250 million in series E funding round
• Funding will support the expansion of Redaptive's offerings and customer base
• Investment from Linse Capital demonstrates confidence in Redaptive's value proposition
• Redaptive's solutions help enterprise customers overcome financial and logistical barriers to investing in energy efficiency and sustainability
• Funding will accelerate Redaptive's ability to bring solutions to more customers and help them achieve sustainability goals

Negative

• None.

DENVER--(BUSINESS WIRE)-- Redaptive, a leading provider of Energy-as-a-Service solutions, today announced an additional investment in its series E funding round from long-term investor Linse Capital. This funding represents another significant step towards expanding Redaptive’s offerings and supporting more customers.

This latest investment follows recent contributions to the round made by Canada Pension Plan Investment Board (CPP Investments), Honeywell, CBRE, and others - bringing the total amount raised for this round to approximately $250 million. With this, Redaptive will continue to support enterprise customers with data-driven energy generation and efficiency programs including HVAC, LED lighting, solar, EV, as well as Data Solutions, and other utility upgrades that can be deployed at large sites or across distributed real estate portfolios.

“As one of the original investors in Redaptive, I have seen firsthand the company mature into one of the best players in the energy efficiency and sustainability space that provides a truly differentiated and strong value proposition to its customers,” said Linse Capital founder and managing director Michael Linse. “With such a large addressable market in the U.S. and globally, we are doubling down on our investment and look forward to helping Redaptive continue to scale its leading EaaS and Data Solutions platform.”

Redaptive's solutions are designed to help enterprise customers overcome the financial and logistical barriers to investing in energy efficiency and sustainability. By funding the upfront costs, providing turnkey implementation of projects, and measuring the results through smart metering, Redaptive is the “easy button” for organizations looking to achieve net zero.

“We highly value our longstanding partnership with Michael and the Linse Capital team who have been integral to our growth and success,” said Redaptive CEO Arvin Vohra. “This additional contribution further accelerates our ability to bring our solutions to more customers making it possible for them to reduce their carbon footprints and achieve their sustainability goals.”

About Redaptive

Redaptive is a leading Energy-as-a-Service provider that funds and installs energy-saving and energy-generating equipment. Redaptive’s programs help many of the world’s most sophisticated organizations reduce energy waste, optimize cost, lower carbon emissions, and meet their sustainability goals across their entire real estate portfolios. With Redaptive, customers can overcome capital and resource barriers to achieve energy-saving benefits quickly, all with continuous data powered by Redaptive’s proprietary metering technology. Redaptive was founded in 2015 and is headquartered in Denver, Colorado. For more information, visit: Redaptive.com.

About Linse Capital

Linse Capital is a growth equity firm that leverages multi-decade macro trends and deep sector knowledge to partner with a select number of industrial technology companies in the transportation, energy, mobility, logistics and real estate sectors, helping their businesses become world leaders in their respective industries. Linse Capital’s portfolio includes ChargePoint (NYSE: CHPT), Redaptive, Skydio, Valens (NYSE: VLN) and Verkada. Linse Capital is based in Puerto Rico with team members in California and Florida and has raised $1.1 billion since inception. For more information, please visit www.linsecapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230503005162/en/

Jeff Fox (for Redaptive)

The Blueshirt Group

jeff@blueshirtgroup.com

415-828-8298

Source: Redaptive

Who invested in Redaptive's series E funding round?

Linse Capital, Canada Pension Plan Investment Board (CPP Investments), Honeywell, CBRE, and others

How much funding has Redaptive raised in this round?

Approximately $250 million

What are Redaptive's solutions?

Energy-as-a-Service solutions that help enterprise customers with energy efficiency and sustainability

What does the investment from Linse Capital demonstrate?

Confidence in Redaptive's value proposition and growth potential

What will the funding be used for?

Expanding Redaptive's offerings and supporting more customers in achieving sustainability goals