Verdigris raises $6.7M

What does Verdigris do?

Verdigris, is a AI company which is powering the world’s smartest buildings. It is a software as a service based platform that develops AI for optimizing energy consumption. The company provides cloud analytics software for enterprise facilities managers and large commercial buildings. It allows them in optimizing operations, saving on energy expenditure and increasing facility uptime. The company spends 90% of their time in buildings. They are the single largest customer of electricity in the world yet more than half is wasted. Building AI is a sophisticated machine learning analytics software as a service platform and embedded wireless sensor which enables disaggregation, real time identification, and analysis of the loads in buildings, providing insights about usage and behavior.

How much Verdigris was funded?

Verdigris raised $6.7M in Series A on October 20, 2016 from StanfordStartX Fund,  Jabil and Verizon Ventures.

Previous funding

$362k on November 9, 2011

$1.5M on January 1, 2012

$1.9M on January 1, 2013

$100k on April 28, 2013

$6M in Series A on March 24, 2016 from FOUNDER.org, Data Collective and StartX.

What is next for Verdigris?

The company plans on using the latest funding raised for scaling manufacturing and customer operations for meeting the increased customer demands and assisting with product rollout. The company offers unprecedented clarity into energy use and facility equipment, saving its customers millions in both annual energy costs and reliability. The company is thrilled that its investors see their promise of AI energy management solution and is looking forward for its next phase of growth. The company also plans on rolling out its AI sensor platform in many of its largest manufacturing sites.

More about Vedrigis

The company was founded in 2011 by Jonathan Chu,  Mark Chung and Thomas Chung. It has its headquarters in Moffett Field, California. It is an AI and IoT platform.