Sparkfund provides an outsourcing model that lets commercial and industrial businesses outsource building energy systems through its Sparkfund Technology Subscription™, covering engineering, financing, maintenance, monitoring, and upgrades. The company works on existing and new energy technologies including lighting, heating, cooling, and backup generation and says its subscription can cost customers 15–40% less than current spending. Sparkfund’s subscription platform, SparkOS, is licensed by Shell and several other energy incumbents. The company is based in Washington, D.C. Sparkfund announced a financing facility with Hannon Armstrong to fund new energy infrastructure installations and to allow Sparkfund to own and operate projects on customers’ behalf. The facility is criteria-based and structured on customer subscription payments, which the company says will let it serve customers faster, with greater certainty, and at a lower blended cost of capital. SparkFund offers an "Efficiency-as-a-Service" platform that lets commercial customers obtain LED lighting, smart HVAC, and other connected energy technologies for a single monthly payment with no upfront cost. The company partners with contractors, ESCOs, manufacturers, distributors, utilities, and retail energy providers to deliver all-inclusive energy solutions and simplify adoption. Its model is explicitly compared to subscription pioneers like Salesforce and Netflix, aiming to move the energy industry toward subscription access. SparkFund has completed nearly 100 projects across 42 states, saving customers an average of $42,000 annually and cutting over 182,000 tons of greenhouse gas emissions (equivalent to powering roughly 24,000 U.S. homes for a year). The company will use new funding to grow sales, marketing, software engineering, and operations teams, add utility and retail energy provider partners, and deepen vendor relationships.

Total raised

$7M

Funding rounds

2

Latest round

Series B

Latest activity

Feb 2017