Logical Buildings develops software and solutions to decarbonize buildings, including virtual power plant (VPP) capabilities and resident-facing reward programs. Its core products include GridRewards™ for residents and SmartKit AI™ for building operators, which integrate with smart thermostats and utility smart meters. The company enables turnkey upgrades with no upfront capital for building owners, monetizing projects through energy savings and grid services revenue. Logical Buildings says its platforms record temperature and impact data in 15-minute increments to generate utility and wholesale grid program revenue. The firm operates in major U.S. urban markets and was founded in 2012. Recent financing activity includes a $110M VPP project facility to accelerate multifamily deployments in New York City and New Jersey. Logical Buildings develops GridRewards and SmartKit AI, software products that turn residential, small‑commercial and larger buildings into grid‑interactive participants in virtual power plants without hardware installation. Its GridRewards mobile app integrates with utility smart meters and thermostats to pay consumers for demand response, reduce carbon emissions, and prevent brownouts. The company says GridRewards is available to commercial and residential owners and the 3.5 million tenants in New York City, and that more than 98% of current GridRewards users have earned money. Logical Buildings' technology has been featured in ESG reports from large real estate firms including AvalonBay, UDR, Mack Cali, and Jamestown, and it is a U.S. Department of Energy Grid Interactive Energy Efficient Building Solutions provider and Connected Communities winner. With demonstrated user payouts and participation, the company positions its software as a tool to help owners meet ESG requirements and to monetize AMI data as utilities roll out advanced metering infrastructure nationally. Logical Buildings develops SmartKit AI, a mobile cloud platform that synthesizes real-time smart meter and grid data with building mechanical and IoT sensor data to optimize building performance and property management decisions. The interoperable platform integrates with existing BMS systems, wi‑fi thermostats (e.g., EcoBee), next-generation IoT devices, and voice activation (Alexa) to enable Automated Demand Response, fault detection, tenant comfort improvements, and new revenue streams. The company says its predictive analytics and digital protocols drive cost reductions and increase net operating income (NOI) for property owners. Logical Buildings completed a $3.5 million Series C-1 offering that was oversubscribed and will fund further SmartKit AI development and expanded partnerships with utilities, IoT platforms, and telecommunications companies. Momentum in Q4 2018 included 60 new SmartKit AI contracts and deployments (a 35% increase) with 10 new clients such as Rose Associates, Stonehenge, Bozzuto, Dermot, and L+M Development Partners and expansions from AvalonBay, Invesco, and Greystar. The company, based in Livingston, N.J. and formerly Energy Technology Savings, Inc. (ETS), plans continued growth in the Northeast and West Coast and expansion into Texas, Illinois, Florida, and deregulated Canadian markets such as Ontario in 2019.

Total raised

$124M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Mar 2023