EnergyHub has raised $14.5 million in its Series B round of funding, adding two new investors—Acadia Woods and the New York City Investment Fund—to its existing investors, .406 Ventures and Physic Ventures. The financing will support commercial deployments of EnergyHub’s home energy management system and the launch of its new Mercury wireless thermostat software service.

Jeff Samberg of Acadia Woods says, “EnergyHub has successfully built a multi-channel business while maintaining its mission to keep energy efficiency simple, informative, and actionable. The company has established itself as a leader in the energy management field with proven solutions that meet the needs of the marketplace.”

New York City Investment Fund President and Chief Executive Officer, Maria Gotsch, notes: “Our mission is to support New York City's most promising startups and entrepreneurs. EnergyHub is a Brooklyn-based company building innovative consumer technologies and smart energy tools that people can use every day to manage their energy use.”

EnergyHub develops and markets home energy management solutions that enable homeowners, utilities, and service providers to access, control, and automate in-home energy consumption.

Seth Frader-Thompson, CEO of EnergyHub, reports, “EnergyHub’s suite of service offerings is designed and priced to meet the needs of consumers, utilities, service providers, and device manufacturers. This funding will support the expansion of its service offerings in the market.”

The funding will support deployment of the EnergyHub Mercury smart thermostat platform, introduced earlier this month. According to EnergyHub, the new service “uses advanced analytics and the engaging EnergyHub user interface to optimize thermostats and increase energy efficiency. Coupling Mercury software with wireless thermostats empowers end users to automate their heating and cooling systems to realize up to 20 percent energy savings. Utilities leverage the platform to improve the yield of demand response programs, while service providers capitalize on it by bundling thermostat optimization and automation with existing subscription offerings.”

For more information, visit www.energyhub.com.

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