Balance Point Capital Leads $55M Financing into Budderfly, Inc.
July 1, 2019
Balance Point Capital led a $55 million financing (senior debt and preferred equity) in Budderfly, Inc., bringing total capital raised to $77 million alongside Edison Partners, Connecticut Growth Capital, the State of Connecticut (DECD), Connecticut Innovations, founder Al Subbloie and senior management. The funding will support Budderfly’s growth in the Energy Efficiency-as-a-Service market, scaling its software, IoT-enabled controls and facility upgrades across nearly 1,000 contracted North American locations.
- Buyers
- Balance Point Capital, Edison Partners, Connecticut Growth Capital, LLC, State of Connecticut (Department of Economic & Community Development), Connecticut Innovations, Al Subbloie, Senior management of Budderfly
- Targets
- Budderfly, Inc.
- Industry
- Energy
- Location
- Connecticut, United States
- Transaction Type
- Growth capital
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