Redaptive Valuation, Funding & Investors

Redaptive is valued at $1B as of May 2023.

Last Redaptive valuation

$1B

Series E · May 2023

Last Redaptive funding round

$100M

Undisclosed stage · Oct 2024

Cumulative funding Redaptive raised

$527M

across 5 funding rounds

Key investors in Redaptive

  • Linse Capital
  • CPP Investments
  • Evergy Ventures
  • Engie
  • ENGIE New Ventures
  • ACE Investment Partners Ltd.

Redaptive Overview

About Redaptive

Redaptive is a Seattle-based Energy-as-a-Service company that finances, installs, and manages energy-saving and generating equipment for global organizations' real estate portfolios. Its proprietary metering platform supplies real-time data on energy use, cost reductions, carbon emissions, and sustainability metrics to accelerate net-zero goals.


Founded

2015

HQ

United StatesDenver, CO

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1B (May 2023)

Redaptive Valuation

Redaptive is currently valued at $1B, based on its Series E in May 2023.

The $50M round was led by Linse Capital.

Redaptive's valuation has grown 6.3x from $158M at its undisclosed-stage round in April 2018 to $1B in May 2023, across 3 priced rounds.

Redaptive valuation by funding round

Redaptive valuation by funding round
DateStageValuation
May 2023Series E$1B
Dec 2022Series E$900M
Apr 2018Undisclosed stage$158M

Redaptive Funding History

Redaptive has raised a total of $527M across 5 funding rounds.

Redaptive's first fundraising round was a $20M undisclosed-stage round in April 2018. The most recent completed round was a $100M undisclosed-stage round in October 2024.

Redaptive funding rounds

Redaptive funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Oct 2024Undisclosed stageCPP Investments (lead)$100M-Redaptive is a Denver-based Energy-as-a-Service (EaaS) provider founded in 2015, specializing in real-time energy analytics, flexible financing, energy optimization, and decarbonization solutions for commercial and industrial clients, including over 40 Fortune 500 brands like T-Mobile, to help achieve net-zero emissions goals and reduce energy waste. The company secured a $100 million equity investment from CPP Investments on October 22, 2024, described as an additional stake increase following prior investments, with proceeds aimed at accelerating project timelines, scaling growth, enhancing service offerings, and supporting its ecosystem of energy performance developers and contractors amid rising demand for sustainability solutions. Subsequent debt financings include $650 million in May 2025 and $21.6 million in December 2025 to fund energy-saving equipment and platform expansion, bringing total funding raised to approximately $1.87 billion across multiple rounds.
May 2023Series ELinse Capital (lead)$50M$1BRedaptive is a Denver-based energy-as-a-service provider that helps commercial and industrial customers implement energy efficiency and sustainability upgrades. The company offers three primary revenue streams: an energy-as-a-service product that funds efficiency upgrades through Redaptive's balance sheet and third-party financing, a data software component connected to hardware systems, and project management services overseeing construction and contractor coordination. Its customers include Iron Mountain, Aramark, and Cintas, typically large enterprises with significant real estate footprints. In May 2023, Redaptive announced an additional $50 million equity investment in its Series E round, led by growth equity firm Linse Capital, bringing the total Series E funding to $250 million. This extension followed the initial Series E closing in December 2022, which raised $200 million from the Canada Pension Plan Investment Board and other investors. The company maintained its post-money valuation of $1 billion across both closings. An unnamed strategic investor participated in the May closing alongside Linse Capital. Redaptive's energy-as-a-service platform enables enterprise customers to overcome financial and logistical barriers to sustainability investments by funding upfront costs and providing turnkey implementation with smart-metering measurement of results. The company's AI-enabled technology identifies and quantifies the impact of efficiency upgrades across customer portfolios. By May 2023, Redaptive had raised approximately $360 million in total growth capital from venture capital and strategic investors including Engie New Ventures, Linse Capital, Honeywell, and CBRE. The company had previously withdrawn its plans for an initial public offering.
Dec 2022Series ECPP Investments (lead); Linse Capital$200M$900MRedaptive is an Energy-as-a-Service provider founded in 2015 and headquartered in Denver that helps organizations reduce energy waste, lower costs, and cut carbon emissions across real estate portfolios. The company funds and installs energy-saving and energy-generating equipment including HVAC systems, LED lighting, solar installations, EV charging infrastructure, and other utility upgrades. Redaptive uses real-time energy analytics and a data-as-a-service metering platform to deliver customized solutions to large commercial and industrial customers globally. On December 19, 2022, the Canada Pension Plan Investment Board (CPP Investments) announced a $200 million investment in Redaptive as part of a Series E funding round. Additional participants in the round included existing investors Linse Capital and CBRE, along with Honeywell. By the time the Series E round closed, total capital raised reached $250 million. At the time of announcement, Redaptive had experienced significant growth with expected bookings growth exceeding 100% year-over-year in 2022. The Energy-as-a-Service market in North America was forecasted to grow at a 30% compound annual growth rate between 2022 and 2030, expanding from $4.8 billion to $38.5 billion. The funding was intended to accelerate Redaptive's growth, expand its service offerings, support its growing customer base, and help more organizations achieve their energy efficiency and sustainability goals. Following this investment, Redaptive received additional capital including a $100 million equity investment from CPP Investments announced in October 2024 and a $21.6 million debt financing in December 2025, bringing total funding raised to approximately $1.87 billion as of the latest disclosures.
Oct 2020Series CAB CarVal Investors (lead); Linse Capital; ENGIE New Ventures; Evergy Ventures$157M-Redaptive Inc. is a San Francisco-based provider of Efficiency-as-a-Service solutions for commercial and industrial customers. The company offers real-time energy analytics, flexible financing, and energy optimization services to help clients meet sustainability targets and reduce energy costs. In October 2020, Redaptive closed a Series C funding round of $156.5 million led by AB CarVal Investors, with participation from existing investors CBRE, Engie New Ventures, Evergy Ventures, and Linse Capital. The company planned to use the capital to expand its energy efficiency offerings to meet growing demand from existing and new customers. As of September 2021, Redaptive employed 190 people, with 131 based in the United States and 59 in India, and maintained headquarters in San Francisco. The company has continued to raise substantial capital in subsequent years, including a $200 million Series E from CPP Investments in December 2022, debt financing rounds totaling over $895 million between 2024 and 2025, and a $100 million private equity investment from CPP Investments in October 2024, bringing total cumulative funding to approximately $1.8 billion.
Apr 2018Undisclosed stageLinse Capital; ACE Investment Partners Ltd.; Evergy Ventures; Engie$20M$158MRedaptive, a San Francisco-based provider of commercial Efficiency-as-a-Service (EaaS), offers portfolio-wide, turnkey energy efficiency solutions where customers pay only for verified avoided energy, differing from traditional models by providing upfront capital, data transparency, and minimal customer involvement. The company secured a $20 million growth equity round announced April 16, 2018, led by CBRE and joined by ENGIE New Ventures, GXP Investments (now Evergy Ventures), and Linse Capital. Marketscreener reported the round issued 4,350,000 Series B preferred shares at $4.728 per share for $20.5668 million gross proceeds (net $20 million after fees), at a post-money valuation of $157,879,072 on March 28, 2018. At the time, Redaptive had secured around $200 million in aggregate contract value with Fortune 500 clients like McKesson and Aramark, generating 423 million kWh of saved energy, and was cash flow positive from day one. The funding aimed to expand product offerings, sales, marketing, and operations to reach more commercial customers in industrial, manufacturing, retail, and healthcare sectors, with plans to grow headcount by over 25% by end-2018 from 40 employees. This 2018 round supported Redaptive's scaling in the EaaS market amid growing demand for energy efficiency without capex. Subsequent rounds included a $156.5M Series C in 2020, $200M Series E in 2022 at $1B valuation, and later debt/PE financings up to 2025, reflecting sustained growth in decarbonization and smart building solutions.

Who has invested in Redaptive?

7 investors have backed Redaptive across its funding rounds, including Linse Capital, CPP Investments, Evergy Ventures, Engie, ENGIE New Ventures and ACE Investment Partners Ltd..

Lead investors include CPP Investments, Linse Capital and AB CarVal Investors.


Redaptive Investors

Investors in Redaptive by funding rounds participated
InvestorHQRoundsRoleFirst check
Linse CapitalUnited StatesSan Francisco, CA4LeadApr 2018
CPP InvestmentsCanadaToronto2LeadDec 2022
Evergy VenturesUnited StatesKansas City, MO2ParticipantApr 2018
ENGIE New VenturesFranceParis1ParticipantOct 2020
ACE Investment Partners Ltd.SwitzerlandGeneva1ParticipantApr 2018

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Redaptive Competitors

Redaptive competitors include listed companies like Grupo TSK and Fugro, and private ones like ACT Group, Aulton New Energy, Hero Future Energies and Newlink.

Public and private companies comparable to Redaptive
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
ACT GroupNetherlandsAmsterdamPrivate--$1B-
Aulton New EnergyChinaChinaPrivate--$1B-
Hero Future EnergiesIndiaNew DelhiPrivate$130M$45M$1B-
NewlinkChinaBeijingPrivate--$1B-
Grupo TSKSpainSpainPublicly listed$1.2B$52M$973M-
FugroNetherlandsNetherlandsPublicly listed$2.1B$164M$1B0.8x

Redaptive Public Comps

Redaptive is still privately-owned, but its public comps include Grupo TSK, Fugro, Total Energy Services, JANAF, ProFrac, Tetra Technologies, Exmar, Polenergia, Fluence Energy and Dor Alon Energy.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Grupo TSK$1.2B$52M0.6x-12.8x-
Fugro$2.1B$164M0.8x0.8x9.8x5.3x
Total Energy Services$763M$140M1.2x1.0x6.7x5.7x
JANAF$137M$74M6.3x-11.6x-
ProFrac$1.9B$187M1.2x1.2x12.3x8.3x
Tetra Technologies$631M$76M1.6x1.5x12.9x8.9x
Exmar$248M$118M5.1x-10.7x-
Polenergia$1.1B$75M1.5x1.6x21.8x12.6x

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Common questions about Redaptive

When was Redaptive founded?Redaptive was founded in 2015.
Where is Redaptive headquartered?Redaptive is headquartered in Denver, CO, United States.
Is Redaptive publicly listed?No, Redaptive is a private, VC-backed company.
What is Redaptive's valuation?Redaptive was last valued at $1B in its Series E in May 2023.
How much funding has Redaptive raised?Redaptive has raised $527M across 5 funding rounds.
What was Redaptive's last funding round?Redaptive's last funding round was a $100M undisclosed-stage round in October 2024, led by CPP Investments.
Who are Redaptive's investors?Redaptive's investors include Linse Capital, CPP Investments, Evergy Ventures, ENGIE New Ventures, ACE Investment Partners Ltd., Engie and AB CarVal Investors.
Which companies are comparable to Redaptive?Companies comparable to Redaptive include ACT Group, Aulton New Energy, Hero Future Energies, Newlink, Grupo TSK and Fugro.

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