(Bloomberg) — Noesis Energy Inc., a closely held provider
of energy-management technology and services, raised $5 million
from two investors, according to a regulatory filing.
Noesis received about half of a potential $10 million
equity financing, according to a filing Wednesday with the U.S.
Securities and Exchange Commission.
The Austin, Texas-based company uses a “freemium”
business model, in which it provides a free, online system that
monitors users’ energy consumption and offers premium upgrades
for an additional charge. The company also provides a platform
for companies to sell energy-efficient equipment to commercial
Black Coral Capital and Austin Ventures last year
participated in a $6 million funding round for Noesis, which has
raised $25.5 million since it was founded, Dave Jaros, a Noesis
spokesman, said in a telephone interview from Austin.
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Robin Saponar, Will Wade