Dive Brief:
- Energy usage analytics startup FirstFuel Software has secured $8.5 million in Series B financing from new and existing investors, including E.ON SE.
- Existing investors Battery Ventures, Rockport Capital and Nth Power also participated in the financing round.
Dive Insight:
FirstFuel says it is planning for "significant expansion" both in North America and worldwide. The software-as-a-service company partners with utilities to help meet and track energy efficiency goals. It now lists several of the largest North American utilities as its customers. FirstFuel also said it wants to speed up the development of its Remote Building Analytics platform for commercial buildings.
“E.ON’s investment in FirstFuel underlines the industry’s broader need to better support commercial customers in managing energy use. More and more, success in our energy business requires technology that drives greater customer engagement and value-added services at mass scale,” said Urban Keussen, senior vice president for technology & innovation at E.ON SE.
