Idealist Capital led a $19m Series B round in Parity.

Idealist Capital, an investment firm, led a $19m Series B round in Parity, a remote HVAC Optimization as a Service company for multifamily buildings and hotels, with participation from ArcTern Ventures, Wyse Meter Solutions, and RET Ventures. "Real estate is at an inflection point. Operational inefficiencies cost owners and operators money with high utility bills and increased environmental regulations. Utility rates continue to rise and so do demands for buildings to interact with the grid in new and more complex ways. HVAC systems consume over half of the energy used in multifamily buildings, making them a necessary component to solving these issues. This funding allows us to continue helping owners and operators improve operational efficiency, expand operations across the US, and increase our product functionality - benefiting environmental goals, as well as our customers' bottom lines," Brad Pilgrim, Parity Founder & CEO.