Blue Pillar, a provider of software-based solutions that increase real time visibility and control into distributed energy assets, has secured a USD14 million financing led by EnerTech Capital.
This round of financing also included the Maryland Venture Fund and existing investors Allos Ventures, Arsenal Venture Partners and Claremont Creek Ventures and will scale the company to meet the accelerating demand for its Aurora® Digital Energy Internet of Things and Avise Foresite Centralized Facility and Fleet Management software platforms.
"Blue Pillar had a record year in 2014 for both revenue and new customer additions," says Tom Willie, CEO of Blue Pillar. "What is even more exciting is that we have already surpassed our entire 2014 sales bookings in the first two months of 2015. This financing enables Blue Pillar to scale our business, building on the breakout opportunities emerging in both our traditional and new customer segments. We can also continue to expand our Internet of Things, energy management, and centralised facility and distributed energy resource software solutions to meet these emerging marketplace needs."
"Blue Pillar has built its business connecting distributed energy assets for demanding and complex customers," says Bill Kingsley of EnerTech Capital. "The speed of deployment enabled by its software approaches always impressed us, but the recent customer adoption showed that Blue Pillar's strategies and products are valued by customers looking for energy management solutions with strong return on investment. We believe in the Company's strategy and look forward to working with the existing investors and management team to drive the rapid growth of Blue Pillar."
"Blue Pillar has proven tremendous, immediate value to customers in over 250 deployments by enabling a completely connected facility and offering centralised data analytics and management capability," says Paul Straub of Claremont Creek Ventures. "The Company's software platform is equipment vendor agnostic, easy-to-deploy and is becoming essential for anyone interested in better managing distributed energy resources and ensuring they will be able to seamlessly integrate new generation, storage, metering or renewable assets in the future."
Blue Pillar's Aurora, Avise Insite and Avise Foresite software solutions address the most pressing challenges for today's complex and critical facilities. Blue Pillar's suite of connectivity, energy and centralized enterprise facility management solutions empower facility executives to recover value from stranded facility assets and reduce power-loss risk, while improving energy efficiency across multi-site facility systems and facilitate demand response programs.
• Aurora is a Digital Energy Internet of Things platform that securely connects, controls, and collects data from facility equipment.
• Avise Foresite is a Centralized Facility and Energy Fleet Management software applications platform allowing multi-site facility or energy fleet operators to centrally manage energy efficiency, resiliency, capital and local emergency events.
• Both new platforms, coupled with Blue Pillar's professional services, augment Blue Pillar's Avise Insite real-time analytics offering, so local facility operators can gain insight into their energy, operations and compliance capabilities within a single complex and critical facility.