Recurve, a San Francisco-based provider of software and services for the home performance industry, announced an $8 million Series B round of financing including new investor Lowe’s Companies, Inc. (NYSE:LOW).
The big box retailer joins existing investors RockPort Capital Partners and Shasta Ventures in the financing. Recurve will use the new capital to keep up with the growing demand and expedite the distribution of its software suite.
The addition of investor Lowe’s suggests the retailer may become a significant path to market for Recurve.
"Lowe’s 60-year history in the home improvement industry will be
valuable in shaping Recurve’s growth," Recurve CEO Pratap Mukherjee
said.
The market for retrofitting homes for energy efficiency has grown
steadily over the last few years. Now, with the onset of government and
utility incentive programs, as well as attractive financing programs
and increasing consumer awareness, the industry growth rate is expected
to escalate dramatically.
Recurve’s software suite is designed to enable home
performance contractors to more accurately and profitably manage home
energy auditing and retrofitting projects, meet government standards and
help homeowners lower their energy bills.
Based in San Francisco and founded in 2004, Recurve provides home performance software and services. The company also is a licensed general and solar contractor that specializes in home energy audits and green energy remodeling for existing homes. Recurve was recognized by the U.S. Green Building Council as the case study in their REGREEN Green Remodeling Best Practice Guidelines.
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