Exclusive: Cortex Intel Raises $6M Series A To Decarbonate Buildings
Summary
Building analytics software company Cortex Intel has raised $6 million in a Series A round led by 4490 Ventures. He spent eight years in management consulting after college, which is where he developed a passion for energy technology and how it can drive sustainability change, he said. “We, like a lot of others, have seen companies trying to solve this problem before, but almost always with some sort of hardware based solution,” 4490 Ventures managing director Dan Malven said in an interview. So the adoption by property owners is going to increase quite dramatically over the next couple of years.” It’s helped that Cortex has been very capital efficient in its approximately seven years of operations, as it’s difficult to have a high burn rate when waiting for a market to develop, Malven added. With the new funding, the company plans on doubling its employee base from 15 to about 30 by the end of the year, hiring in Nashville, New York, and Washington, D.C.
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