EnergyWatch has secured an undisclosed amount of equity investment from Community Fuel Investment Partners.
Community Fuel Investment Partners has purchased a significant equity stake in EW, which will enhance EW’s growth potential.
EnergyWatch co-founder and chief operating officer Diana Sweeney said: “Community Fuel accelerates our ability to provide clients with world-class technology and capabilities, including a broader roll-out of our watchwire SaaS based energy management solution. We are delighted to have them as our partners and look forward to growing the business together.”
The founders of EW, Diana Sweeney and Jay Raphaelson, along with their partners Andy Anderson, EW’s Managing Director, and Syed Huda, Director of Software Engineering, will continue in their management roles and also retain significant equity interests in the company.
Community Fuel Investment Partners is the latest private equity vehicle of Corporate Fuel, a NYC based boutique investment bank focused on helping middle market businesses realize their full value. Two of Corporate Fuel’s executives, John Simons and Russ Fein, will now join the EW Board of Directors.
Corporate Fuel partner John Simons said: “We look forward to partnering with EW’s management team to build upon the company’s strong foundation and ensure it has the resources to capitalize on opportunities going forward. We are especially excited about the team’s considerable talents and the recent transition of their watchwire data management and reporting tools to a SaaS platform, which positions watchwire to become the market leading utility data management and reporting solution.”
Source: Company Press Release