Provider of software solutions that increase the effectiveness of utility and governmental energy efficiency programs EnergySavvy has closed a $3m round of investment.

Pivotal Investments, Summit Capital and investors from the Northwest Energy Angels partnered together to provide the funding.

Pivotal Investments managing director Bradley Zenger, who will now be part of EnergySavvy’s board of directors termed the investment a compelling marketing opportunity as the spending on utility energy efficiency had grown to $6bn by 2011, exhibiting an average 25% per annum over the last five years.

"We believe EnergySavvy is an emerging leader, bringing innovative, valuable, software solutions to an industry that increasingly demands real-time, data driven transparency, measurement and results," added Zenger.

The company in the last one year has secured contracts from utilities such as Puget Sound Energy, Black Hills Energy and Long Island Power Authority.

EnergySavvy’s CEO and Co-Founder Aaron Goldfeder concluded, "Our software is increasingly becoming the obvious choice for energy efficiency programs because it helps achieve more energy efficiency gains per ratepayer dollar with increased transparency and accountability."