Investment to Fuel Expanded Market Opportunity and New Technology-Driven Energy Conservation Services
DALLAS, TEXAS and MENLO PARK, CA — November 11, 2015 — Cenergistic, a national leader in energy conservation, announced today that venture capital firm Kleiner Perkins Caufield & Byers (“Kleiner Perkins”) has taken a minority interest in the company.
Cenergistic will join Kleiner Perkins’ Green Growth portfolio, which was formed to speed adoption of solutions to the world’s climate crisis. The portfolio is invested in novel power generation, fuel, transportation, energy storage, energy efficiency and other greentech solutions.
“Kleiner Perkins’ confidence in Cenergistic is a testament to our business model, growth potential and spirit of innovation,” said Dr. William S. Spears, Cenergistic’s Founder and Chairman. “Joining the other visionary companies in the Kleiner Perkins family will help Cenergistic bring a better energy future, powered by technology, to new and wider markets.”
The investment gives Cenergistic access to the Kleiner Perkins network of Green Growth portfolio companies, with the potential to form alliances that could bring new products to Cenergistic’s existing suite of solutions and open up new vertical and geographic markets.
“This investment is about the future,” said Dr. Randy Hoff, Cenergistic’s CEO. “Kleiner Perkins shares our conviction that we have a unique opportunity to grow our business in existing markets as well as in new verticals and, potentially, internationally.”
“We are thrilled to have Cenergistic join our family of companies that are developing and marketing innovative and sustainable ways to generate and conserve energy,” said Ben Kortlang, a partner in Kleiner Perkins’ Green Growth Fund. “They have pioneered a data- and technology-driven approach to energy conservation that is truly unique, and we look forward to working with them to take this approach to new clients and new markets. In fact, we view Cenergistic — though a 30-year-old company — expanding rapidly, with the growth prospects of an emerging innovator.”
Ben Kortlang will become a member of the Cenergistic board, joining current board members including Dr. Spears and Dr. Hoff. Dr. Spears will appoint two additional board members.
Cenergistic is a technology-powered, data-driven energy conservation company. Cenergistic helps organizations reduce consumption of electricity, natural gas, fuel oil and water. Its proven approach is built on a proprietary methodology which optimizes clients’ infrastructure, improves internal processes and changes behavior to ensure that savings endure. This approach empowers the average client to save 20 – 30% off expected utility bills. For seven straight years, Cenergistic has earned national recognition from the United States Environmental Protection Agency, including the ENERGY STAR Partner of the Year – Sustained Excellence Award in 2011, 2012, 2013, 2014 and 2015. For more information visit www.cenergistic.com and follow @cenergistic.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Uber, Genentech, Google, Nest, Netscape, and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships, and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai, and Beijing. For more information, visit https://www.kpcb.com and follow us @kpcb.