Redaptive Announces $20 Million Round of Financing Led by CBRE
On April 16, 2018, Redaptive, a leading provider of commercial Efficiency-as-a-Service (EaaS), announced that it has completed a $20 million investment round led by CBRE, the world's largest commercial real estate services and investment firm. CBRE was joined in the round by ENGIE New Ventures, GXP Investments, and Linse Capital. Wilson Sonsini Goodrich & Rosati represented Redaptive in the transaction.
Redaptive, based in San Francisco, differs from traditional energy services firms in that it offers portfolio-wide, turnkey efficiency solutions, backed by transparent measurement and verification reporting. Redaptive's EaaS enables businesses to accelerate portfolio-wide efficiency upgrades that generate immediate utility savings, and customers only pay for verified avoided energy—a stark contrast to the industry's legacy financing models. According to a press release, Redaptive has secured around $200 million in aggregate contract value to date, generating approximately 423 million kWh of saved energy.
The WSGR team that represented Redaptive in the transaction includes:
Bob O'Connor, Partner
Randy Lewis, Partner
Carrie Kibler, Of Counsel
Andrew Sparks, Associate
Jason Slagle, Associate
Karen Becker, Senior Paralegal
Sam Musser, Practice Group Assistant
Lissette Lastra, Executive Assistant
Energy and Infrastructure:
Scott Zimmermann, Associate
Grace Hsu, Associate
Employee Benefits and Compensation:
Brandon Gantus, Partner
Ryan Greecher, Of Counsel
For more information, please see Redaptive's press release.