Quilt Secures $20 Million to Accelerate Its Smart Heat Pump Revolution

Quilt has raised $20 million in new funding. The Redwood City-based startup makes modern, app-controlled heat pumps. This Series B round closed recently.

The investment will fuel a major expansion. The company aims to challenge large, traditional HVAC manufacturers. According to Reuters, the heat pump market is growing rapidly.

Investors Bet on Software-Driven Home Climate Control

Energy Impact Partners and Galvanize led the funding round. Other participants included Alumni Ventures and Gradient Ventures. Former Nest CFO Tom vonReichbauer will join Quilt’s board.

This brings Quilt’s total known fundraising to over $53 million. The company announced a $33 million Series A in April 2024. New board members bring deep experience in home technology.

The funds will help the company reach more homes. Quilt has already installed nearly 1,000 units. These are spread across 16 U.S. states and five Canadian provinces.

Design and Updates Set Quilt Apart in a Crowded Market

Quilt’s strategy relies on superior software and design. The company treats its hardware like a smart device. This allows for performance improvements after installation.

One recent over-the-air update improved existing unit performance by over 20%. This software-first approach is unique in the industry. It turns a static appliance into an upgradable asset.

The market for efficient home heating is expanding quickly. Governments are promoting heat pumps to reduce carbon emissions. Quilt’s sleek, user-friendly design targets homeowners seeking both style and sustainability.

This new funding solidifies Quilt’s position as a serious innovator. The company is poised to disrupt the traditional heating and cooling sector. The heat pump market now has a formidable, software-powered contender.

A quick knowledge drop for you

Q1: What does Quilt company do?

Quilt designs and installs modern, customizable heat pump systems. These systems provide both heating and cooling for homes. The company emphasizes sleek design and smartphone control.

Q2: How much funding did Quilt just receive?

Quilt raised $20 million in a Series B funding round. The round was led by Energy Impact Partners and Galvanize. This follows a $33 million Series A round last year.

Q3: What is a heat pump?

A heat pump is an efficient device that moves heat. It can extract heat from outside air to warm a home in winter. In summer, it reverses to cool the home by removing indoor heat.

Q4: Why is Quilt’s software approach important?

It allows the company to improve units after they are installed. An over-the-air update recently boosted performance by more than 20%. This extends product life and enhances customer value over time.

Q5: Where is Quilt available?

Quilt systems are installed in 16 U.S. states and five Canadian provinces. The new funding will be used to expand this service footprint further. The company is based in Redwood City, California.