Sustainable Spaces, a national leader in the growing field of home energy efficiency and health, has closed its Series A funding. The company secured $6 million dollars from RockPort Capital Partners and Shasta Ventures.
The infusion of funding will enable the company to invest in building its infrastructure.
Sustainable Spaces brings homes up to today’s high standards of energy efficiency, health and comfort by applying building science to conduct home energy audits and retrofit projects. Since 2004, the company has performed over 400 home retrofits in the
San Francisco Bay Area, lowering homeowners’ energy usage and expense
by an average of 40%, while improving indoor air quality and thermal
comfort.
Existing homes currently account for almost 21% of the U.S. carbon output, more than all the cars, trucks and buses combined. Energy efficiency is one of the most cost-effective avenues for improving energy security, reducing energy bills, and addressing the important issue of global climate change–all while creating green collar jobs and growing the economy.
Pratap Mukherjee, CEO of Sustainable Spaces, said "There are more than 70 million single-family, owner-occupied homes in the U.S. and they typically use one and a half to two times the energy required to achieve the homeowners’ desired level of comfort. Finding the causes of wasted energy in homes and fixing the underlying problems represent the single most potent and cost-effective measure we can take to combat global warming."
"Sustainable Spaces has created a compelling value proposition for homeowners," said Chuck McDermott of RockPort Capital Partners. "By addressing each individual homeowner’s concerns and constructing an improvement roadmap customized to that customer, they can work within any homeowner’s budget to reduce their bills and make an impact on global climate change. Our investment enables the company to further increase the tremendous results they have seen in their local market and expand their programs into new markets."
"There’s a massive opportunity to create the trusted brand in home performance to help homeowners sort through the dizzying array of green products and services in the most cost-effective way possible," said Tod Francis of Shasta Ventures.
About Sustainable Spaces
Based in San Francisco and founded in 2004, Sustainable Spaces is the leading provider of home performance services, helping homeowners and homebuilders create homes that are comfortable, healthy, and energy efficient. A licensed general and solar contractor, the company specializes in home testing and building performance retrofitting for existing homes. Sustainable Spaces applies building science to quantitatively analyze a home’s performance as a dynamic system, so as to tailor a solution to the client’s goals, budget, and priorities. The company has been recognized by the U.S. Green Building Council as the case study in their REGREEN Green Remodeling Best Practice Guidelines.
About RockPort Capital Partners
RockPort Capital Partners is a leading venture capital firm partnering with clean tech entrepreneurs around the world to build innovative companies and bring disruptive technologies and products to the 21st century. RockPort’s investment approach is distinguished by collaboration with management teams to foster growth and create value. Combining domain expertise with policy and international experience, RockPort has a proven track record of leveraging its insights and networks to foster growth and create value. For more information on RockPort Capital Partners, please visit www.rockportcap.com.
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