FOR IMMEDIATE RELEASE
March 30, 2018
Contact: Jeff Quigley – firstname.lastname@example.org – 781-696-0980
Vermont has become Kentucky-based Virtual Peaker’s home away from home. In early 2018, the company drew a substantial portion of its seed funding from the Vermont technology and clean energy communities. Virtual Peaker is a cloud-based energy management platform that is helping utilities build the grid of the future.
“It’s incredibly exciting and validating to receive funding from investors in Vermont, a state that is leading the way on innovation and is so deeply committed to the future of energy.” says Bill Burke, Virtual Peaker’s CEO. “It inspires us to continue to deliver and expand these solutions that will benefit both utilities and their customers.”
The 2016 winner of Green Mountain Power’s Inspire Space Contest in Vermont, Virtual Peaker has built a reputation within New England as a start-up that not only has great technology, but also has an ability to execute. Green Mountain Power continues to partner with Virtual Peaker to help customers cut costs and cut carbon.
“We are thrilled to work with Virtual Peaker as we transform our energy system in Vermont to one that is more home, business, and community-based,” says Josh Castonguay, Vice President of Innovation for Green Mountain Power. “Innovation is key to finding ways to provide reliable, clean, and cost-effective power in this changing energy landscape, and Virtual Peaker is offering real world solutions to directly benefit the customers we serve.”
Shelburne-based FreshTracks Capital is one of the Vermont based investors in Virtual Peaker’s seed capital round. In addition to capital, the seasoned FreshTracks investment team has provided an incredible knowledge base for the company as it grows. “Our investment in Virtual Peaker demonstrates our continued interest in investing in companies that solve present and future energy challenges”, says Cairn Cross, co-founder of Fresh Tracks Capital. “The Virtual Peaker team has demonstrated an ability to develop great device control and management technology and commercialize it in a way that creates value for utilities.”
With investment coming in from all corners of the US, Virtual Peaker is positioning itself for rapid expansion of its team, capabilities and customer base. “The Vermont Business Community has been an amazing partner on this journey,” says Burke, “and the best part is that we are just getting started.”
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About Virtual Peaker
Virtual Peaker is a cloud-based energy management platform that is helping utilities build the grid of the future. Using the internet-of-things, Virtual Peaker connects to any in-home smart device to allow utilities to run residential demand response programs, develop new revenue streams and exceed their customer engagement goals. Virtual Peaker is based in Louisville, KY.
About FreshTracks Capital
Founded in 2001, FreshTracks Capital is a Vermont-focused investment fund that uses venture capital to create positive economic and community impacts. Across its four funds, which total more than $47 million, FreshTracks has invested companies. Portfolio company information can be found at: FreshTracks Portfolio. FreshTracks hosts a number of events for entrepreneurs and investors, including Peak Pitch and Road Pitch. The firm’s General Partners and Managing Directors are Cairn Cross, Lee Bouyea and T.J. Whalen. FreshTracks is actively investing out of its most recent fund, FreshTracks Capital IV.