Pittsburgh, PA, September 28, 2016– Encentiv Energy, a Pittsburgh-based, Software-as-a-Service (SaaS) company in the rapidly growing $25 billion per year energy efficiency market raised $2.44m in an investment and venture debt round led by Birchmere Ventures.
Birchmere’s reputation for investing in high growth technology companies in their early stages that can have a positive impact on a large target market is a great reflection of their confidence in the Encentivizer™ Platform and the opportunity that the company has to dramatically impact the energy efficiency industry. Birchmere lead a group of investors that included the BlueTree Venture Fund, Pittsburgh Equity Partners and Innovation Works.
“Every day there are thousands of energy efficiency vendors and contractors who need help working with customers to try and understand the complex world of rebate and financing programs. With over 3,000 programs in the U.S. that include hundreds of thousands of options, the energy efficiency industry is simply overwhelmed. Moreover, the rules are constantly changing and the application process can be onerous, causing customers to often miss out on opportunities to save 30-50% on the project. Subscribing to the Encentivizer Platform solves this big problem and helps close more deals.” Steve Moritz, President and CEO, said.
The investment capital will provide significant fuel for enhanced development of the Encentivizer Platform and to add new positions – mostly sales and marketing – to keep expanding their market across the U.S. and Canada. The company is already seeing rapid adoption of the Encentivizer Platform and with the new investment expects that to accelerate even more over the next 12-18 months.
“With rebate and financing programs being a critical element in the adoption of new energy efficiency technology, we’re seeing customers embrace the subscription model for access to our Platform. This investment will allow us to focus on the growth of that side of our business,” Moritz said.
Birchmere Ventures, headquartered in Pittsburgh & San Francisco, invests in the best early stage startups across the country.
Encentiv Energy is transforming the way people make purchasing decisions for energy efficient products. By providing tools that seamlessly integrate into the workflow of energy efficiency providers, they make accessing rebates and financing a more straightforward and painless process.
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AEE Recognizes Individuals and Organizations for Contributions to the Energy Industry – The Encentivizer™ Platform is an innovative energy technology
Washington, DC, September 9, 2016 – Michael Cham, Encentiv Energy’s Chief Technology Officer was awarded the Energy Innovator of the Year for the Encentivizer™ Platform from the Association of Energy Engineers (AEE). This award is presented to an individual for outstanding achievement and innovation in promoting the adoption of renewable, green, or other innovative energy technologies.
“I was honored and thrilled to be recognized by the AEE. I am very impressed this organization saw the value the Encentivizer Platform brings to the energy efficiency industry. Our innovative technology is having a tremendous positive impact on this market and I’m really excited about the future.” Michael Cham, Chief Technology Officer.
WEEC 2017, presented by the Association of Energy Engineers, is designed specifically to facilitate those seeking to expand their knowledge of fast-moving developments in the energy field, explore promising new technologies, compare energy supply options, and learn about innovative and cost-conscious project implementation strategies.
About the AEE
The Association of Energy Engineers, a nonprofit professional Association of over 18,000 members, is presenting over 60 regional awards to individuals and organizations around the world. It is important to recognize these individuals and companies for their dedication and performance in the energy efficiency and renewable energy industry.
Encentiv Energy, is a technology company in the energy rebate and financing market. The Encentivizer technology, developed by Encentiv Energy, is the only comprehensive source that includes details on every rebate program and tools to access those programs. Encentiv Energy is transforming the way people make purchasing decisions for energy efficient products. By providing tools that seamlessly integrate into the workflow of energy efficiency providers, they make accessing rebates and financing a more straightforward and painless process.