Austin software company Noesis Energy raises $6 million for expansion

Mar 3, 2014
Austin American Statesman

Austin software company Noesis Energy has raised nearly $6 million for expansion. Noesis, whose software helps commercial and industrial businesses evaluate and finance energy efficiency projects, will use the money to grow a new business effort aimed at helping customers find third-party financing for energy efficiency projects


This is an “opportunity to really accelerate and develop our energy efficiency project financing business, which we launched last year,” Dave Jaros, vice president of marketing for Noesis (pronounced No-ee-sis), said Friday. “It speaks to the increased traction, more momentum in that part of the business.”


The new round of fudning brings Noesis Energy’s total fundraising to $20.5 million, Jaros said. The company disclosed an $8 million round in July 2012


Noesis has 36 employees, Jaros said, up from 27 in the summer of 2012


Noesis’ system combines analytic tools, energy market data, educational resources and a community of experts to help in-house energy managers and third-party consultants


The most recent cash infusion comes from existing investors Austin Ventures and Boston-based fund Black Coral Capital, which focuses on energy investments. Black Coral Capital was the lead investor during the previous fundraising effort


Noesis was co-founded by Austin software veteran Scott Harmon in 2011. Harmon was previously CEO of systems network management software maker AlterPoint, which was backed by Austin Ventures and was acquired in 2009 by Versata Enterprises Inc.


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