Noesis Energy Receives $5 Million for Energy-Efficiency TechJustin Doom
Noesis Energy Inc., a closely held provider of energy-management technology and services, raised $5 million from two investors, according to a regulatory filing.
Noesis received about half of a potential $10 million equity financing, according to a filing Wednesday with the U.S. Securities and Exchange Commission.
The Austin, Texas-based company uses a “freemium” business model, in which it provides a free, online system that monitors users’ energy consumption and offers premium upgrades for an additional charge. The company also provides a platform for companies to sell energy-efficient equipment to commercial building owners.
Black Coral Capital and Austin Ventures last year participated in a $6 million funding round for Noesis, which has raised $25.5 million since it was founded, Dave Jaros, a Noesis spokesman, said in a telephone interview from Austin.