Parity Raises $5.7M to Expand Multifamily HVAC Management Platform
Parity Inc., a proptech startup specializing in optimizing HVAC operations for multifamily buildings and hotels, has successfully raised $5.7 million (approximately $8 million CAD) in a new funding round. The investment was led by Wyse Meter Solutions and RET Ventures, both prominent figures in energy-efficient metering and property technology. Founded in 2016 with an initial focus on the Canadian market, Parity has expanded its services to over 150 assets globally, including entry into the U.S. market in 2020. The company plans to utilize this capital to significantly scale its Canadian operations and further expand its reach across the United States. Parity’s SaaS platform aims to reduce building carbon emissions by 30 to 50 percent by optimizing HVAC equipment performance and lowering capital investment costs. To date, the platform has helped reduce over 5,500 metric tons of CO2 emissions. This funding aligns with the growing trend among multifamily operators to proactively manage environmental footprints and meet ESG goals through advanced software control systems that optimize central HVAC loads.
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Parity Raises $5.7M to Expand Multifamily HVAC Management Platform
Parity Inc., a proptech startup specializing in optimizing HVAC operations for multifamily buildings and hotels, has successfully raised $5.7 million (approximately $8 million CAD) in a new funding round. The investment was led by Wyse Meter Solutions and RET Ventures, both prominent figures in energy-efficient metering and property technology. Founded in 2016 with an initial focus on the Canadian market, Parity has expanded its services to over 150 assets globally, including entry into the U.S. market in 2020. The company plans to utilize this capital to significantly scale its Canadian operations and further expand its reach across the United States. Parity’s SaaS platform aims to reduce building carbon emissions by 30 to 50 percent by optimizing HVAC equipment performance and lowering capital investment costs. To date, the platform has helped reduce over 5,500 metric tons of CO2 emissions. This funding aligns with the growing trend among multifamily operators to proactively manage environmental footprints and meet ESG goals through advanced software control systems that optimize central HVAC loads.
FinLedger