Budderfly Secures $55 Million in Funding to Fuel Rapid Expansion of Successful Energy Efficiency as a Service Offering

SHELTON, Conn., June 25, 2019 /PRNewswire/ -- Budderfly, a leading pioneer in the Energy Efficiency as a Service market, today announced new $55 million in growth equity and project debt funding led by Balance Point Capital with participation by Connecticut Innovations. Combined with expected vendor partner financing, Budderfly is now fully positioned to implement its industry-leading plan to manage over $3 billion in customer energy spending over the next 10 years. Budderflys business model removes the major impediments to taking action, including a lack of investment capital and confusion over best practices due to the complexity of the options. " Balance Point Capital Managing Partner Seth W. Alvord added, "Budderfly has taken a leadership role in the emerging energy efficiency market, leveraging its strength in software automation and IoT energy devices along with a proven management team and distinctive business model to deliver a leading-edge solution that is a great new option for many businesses and building owners. "Budderfly continues to deliver exciting results, empowering our customers to achieve real success in an era of heightened global emphasis on Green policies to reduce climate change while simultaneously eliminating the significant expense of wasted energy consumption - all at no cost to them.