Total amount raised
$97.5 Millions
Latest funding date
03/01/2024
Location
Sealed has successfully raised $30 million in a Series B funding round, backed by notable investors such as Fifth Wall, Cyrus Capital Partners, and CityRock Venture Partners. The company focuses on home energy efficiency, offering solutions that include insulation, HVAC, and smart home technology.
Keep reading to explore the intricacies of Sealed's fundraising journey and the investors backing this innovative platform.
What Is Sealed?
Sealed, founded on December 1, 2012, is a climate tech company headquartered in New York, New York. The company operates in the clean energy, sustainability, and home improvement sectors, focusing on home energy efficiency through weatherization and electrification projects.
Founded by Andy Frank, Lauren Salz, and Paul Gilkerson, Sealed employs between 51-100 people. The company leverages software, data, and analytics to offer comprehensive solutions, including a one-stop rebate service, aimed at stopping home energy waste and supporting contractor growth.
How Much Funding Has Sealed Raised?
- Seed Round
- Amount Raised: $4M
- Date: May 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and initial product development.
- Debt Financing
- Amount Raised: $5M
- Date: May 2016
- Lead Investors: NY Green Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's early-stage growth and operational needs.
- Series A
- Amount Raised: $13M
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the company's market reach and enhance its product offerings.
- Series B
- Amount Raised: $16M
- Date: June 2021
- Lead Investors: Fifth Wall
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the company's operations and invest in new technology.
- Series B
- Amount Raised: $29.5M
- Date: April 2022
- Lead Investors: Fifth Wall
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market presence and product development.
- Series B
- Amount Raised: $30M
- Date: March 2024
- Lead Investors: Keyframe Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and support the growth of Sealed Pro, a software platform for home energy improvement.
Total Amount Raised: $97.5M. Current Valuation: Not publicly disclosed.
Key Investors
- Keyframe Capital Partners
- Details: Keyframe Capital Partners is a venture capital firm that led Sealed's Series B funding round in March 2024. They focus on investing in innovative companies that drive significant change in their industries.
- Investment Focus Areas: Technology, Energy, Financial Services
- Notable Investments: Not publicly disclosed
- Fifth Wall
- Details: Fifth Wall is a venture capital firm that participated in multiple Series B funding rounds for Sealed. They are known for their investments in real estate technology and sustainability.
- Investment Focus Areas: Real Estate, Sustainability, Technology
- Notable Investments: Not publicly disclosed
- NY Green Bank
- Details: NY Green Bank is a state-sponsored financial entity that provided debt financing to Sealed in May 2016. They aim to accelerate clean energy deployment in New York State.
- Investment Focus Areas: Clean Energy, Energy Efficiency, Renewable Energy
- Notable Investments: Not publicly disclosed
- Cyrus Capital Partners
- Details: Cyrus Capital Partners is an investment firm that participated in Sealed's Series B funding round in March 2024. They focus on a wide range of investment opportunities across various sectors.
- Investment Focus Areas: Technology, Transportation, Financial Services
- Notable Investments: Not publicly disclosed
- CityRock Venture Partners
- Details: CityRock Venture Partners is a venture capital firm that invested in Sealed's Series B funding round in March 2024. They focus on early-stage investments in innovative companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Products
- Notable Investments: Not publicly disclosed
What's Next for Sealed?
Sealed is poised for significant growth with the expansion of its operations and the introduction of Sealed Pro, a software platform designed to accelerate home energy improvement and electrification projects. This platform aggregates projects for utility and government incentives, providing a streamlined process for securing rebates and payments on behalf of contractors.
With a successful $30 million funding round, Sealed has the financial backing to scale its operations and potentially attract further investment. The increasing focus on residential energy efficiency and electrification presents a substantial opportunity for growth, especially as more homeowners and contractors seek efficient solutions.
However, Sealed may face challenges in navigating the complexities of securing rebates and ensuring that its software platform meets the diverse needs of contractors and homeowners. Competition from other energy efficiency solution providers could also pose a challenge as the market continues to grow.
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