Quilt, a Redwood City-based company providing automated HVAC solutions, recently announced a $20 million round of Series B funding. The raise brings its total capital to $64 million to date and will enable Quilt to fuel the continued growth of its heat pump technology.
The company’s mobile app and smart thermostat solutions enable homeowners to control the temperature in their houses room-by-room, helping them conserve energy and lower their electricity costs. Quilt’s heat pumps offer a more efficient and greener way to warm and cool homes than gas furnaces. The company has installed nearly 1,000 units to date and plans to exceed this number by year’s end.
Quilt has a partner network of more than 60 businesses across 16 states and five provinces. With the help of its new funding, the company will accelerate growth, product development and expand its impact. It will invest in expanding its service areas and building out new features for homeowners as well as deepening support for its partners.
