Blue Pillar supports $14m

Blue Pillar, a US-based provider of energy management software, has raised $14m in a series C round to finance its expansion.

Amongst the backers is Claremont Creek Ventures, an early-stage venture firm with $300m under management and partnered with University of California campuses Berkeley and Davis, as well as Stanford University. Fellow existing investors Allos Ventures and Arsenal Venture Partners also joined the round, and were joined by new backer the Maryland Venture Fund. The round was led by Enertech Capital.

Blue Pillar has raised $22m in venture rounds, with an additional $3.7m in debt financing. The existing backers were joined by OnPoint Technologies in a $7m series B in 2012, and the firm raised $1m in a 2010 series A.

The company offers three software platform: Aurora, Avise Insite, and Avise Foresite. Collectively, the company offers internet of things connectivity, management applications, and real-time analytics for the energy industry.

“Blue Pillar had a record year in 2014 for both revenue and new customer additions,” said Tom Willie, CEO of Blue Pillar. “What is even more exciting is that we have already surpassed our entire 2014 sales bookings in the first two months of 2015. This financing enables Blue Pillar to scale our business, building on the breakout opportunities emerging in both our traditional and new customer segments. We can also continue to expand our Internet of Things, energy management, and centralized facility and distributed energy resource software solutions to meet these emerging marketplace needs.”