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Frederick, Md. — Marketwired — March 16, 2015 — Blue Pillar, a leading provider of software-based solutions that increase real time visibility and control into distributed energy assets, announced a $14 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," said 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 centralized facility and distributed energy resource software solutions to meet these emerging marketplace needs."
Bill Kingsley, of EnerTech Capital, added, "Blue Pillar has built its business connecting distributed energy assets for demanding and complex customers. 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."
Paul Straub, of Claremont Creek Ventures, said, Blue Pillar has proven a tremendous, immediate value to customers in over 250 deployments by enabling a completely connected facility and offering centralized data analytics and management capability. 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.
