Quilt develops sleek, connected heat pumps that can receive over-the-air software and firmware updates, allowing in-field performance improvements such as a recent 20% efficiency boost. Drawing on a team with deep Nest experience, the company takes a design- and software-first approach to challenge incumbent HVAC manufacturers. As of its Series B, Quilt has installed nearly 1,000 units across 16 U.S. states and five Canadian provinces, demonstrating early adoption of its product. The latest funding will be used to expand manufacturing capacity, sales operations, and geographic reach. Co-founder and CEO Paul Lambert leads the company. With the new capital, Quilt has raised at least $53 million to date, including a $33 million Series A announced in April 2024 and the recent $20 million Series B.

Total raised

$62M

Funding rounds

3

Latest round

Series B

Latest activity

Dec 2025