Redwood City-based climate tech startup Quilt has secured $20 million in a Series B funding round to accelerate its mission of decarbonizing residential heating and cooling. This latest investment, bringing the company's total funding to $64 million, signals strong investor confidence in its innovative, design-forward heat pump technology. The company is poised to expand its efforts in replacing fossil-fuel-based systems with a smarter, more efficient, and aesthetically pleasing home climate solution.
Strategic Funding to Fuel Expansion
The funding round was co-led by Energy Impact Partners and Galvanize, with continued participation from notable investors like Lowercarbon Capital and Google's Gradient Ventures. Quilt will channel the new capital into expanding its operational footprint across North America, aiming to shorten customer wait times and enter new service areas. This strategic investment is also earmarked for accelerating the development of new products and software features based on direct user feedback.
Strengthening Leadership and Vision
To guide its next growth phase, Quilt has strengthened its board with two key appointments. Tom vonReichbauer, former CFO of consumer tech giants Nest and Sunrun, brings invaluable experience in scaling hardware companies within the home energy sector. He is joined by Veery Maxwell, co-head of Galvanize Climate’s Innovation + Expansion fund, whose expertise will be crucial in navigating the evolving climate tech landscape.
A Software-First Approach to Home Climate
Quilt distinguishes itself from HVAC incumbents through a software-centric approach, treating its hardware as a platform for continuous improvement. A prime example is a recent over-the-air update that boosted the efficiency of already installed units by over 20%, a feat unheard of with traditional systems. This focus on innovation has helped its systems achieve the highest SEER2 and HSPF2 efficiency ratings in their class.
Delivering Tangible Efficiency and Savings
The system's intelligence translates into tangible benefits for homeowners, including features like "Auto-Away" which automatically adjusts temperatures in empty rooms to conserve energy. Users can also monitor real-time energy consumption, empowering them to manage costs while enjoying superior year-round comfort. Quilt reports its technology is up to 400% more efficient at heating than the fossil fuel furnaces prevalent in many North American homes.
Rapid Growth and Market Adoption
The company's market momentum is evident in its rapid expansion, having already installed nearly 1,000 units across 16 U.S. states and five Canadian provinces. This growth is supported by a robust network of over 60 Quilt Certified Partners who manage installation and serve as community educators. CEO Paul Lambert notes that customers are choosing Quilt not just for its green credentials but for the immediate improvements in comfort and cost savings.
This $20 million infusion empowers Quilt to significantly scale its operations and intensify its challenge to the conventional home climate control industry. By blending high-efficiency hardware with intelligent software and a strong community-based strategy, the company is cementing its role as a key innovator in the residential energy transition. As consumer demand for sustainable and smarter home solutions continues to rise, Quilt's trajectory of innovation and expansion will be pivotal.