Parity Secures $19M in Series B Funding

Parity, a remote HVAC optimization service provider based in Toronto, Canada, has raised $19 million in a Series B funding round.

The funding round was led by Idealist Capital.

The company plans to utilize the new capital for expanding its geographic reach within the United States. Additionally, Parity aims to target new verticals such as senior and student housing. The funds will also support the ongoing development and rollout of new products and services designed to enhance automated building efficiency and grid interactivity.

Brad Pilgrim, the Founder and CEO of Parity, leads the company in providing HVAC optimization services to multifamily residential and hospitality properties. Parity’s solutions deliver automatic, guaranteed energy and cost savings through advanced control automation algorithms, real-time monitoring, proactive technical support, and savings verification. These services ensure efficient daily operation of heating, cooling, and ventilation systems, reducing energy waste, optimizing demand response revenue, and lowering onsite staff workloads.

To date, Parity has achieved measurable energy savings across more than 65 million square feet of multifamily and hospitality real estate.

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