HELIXintel Secures Series A Funding Round to Fuel Expansion in Building Management Industry

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Jun 12, 2023, 12:45 ET

BUFFALO, N.Y., June 12, 2023 /PRNewswire/ -- HELIXintel, an innovative platform providing building management, predictive analytics, and equipment management solutions, has concluded a successful and competitive Series A funding round, strategically positioning the company for significant growth and expansion.

National Grid Partners, the corporate venture and innovation arm of National Grid, led the round. Earlier investors, including Munich Re Ventures, Stellifi, Motivate Ventures and others, all participated in the round.

HELIXintel’s CEO, Jon DeWald, speaks during an event hosted by National Grid Partners in May 2023. (Photo courtesy of National Grid Partners)

HELIXintel is at the forefront of transforming the building management space. In the current landscape, property managers, vendors, insurers, and energy companies face fragmented data collection, reliance on multiple software platforms, and limited communication channels. This leads to data gaps, heightened property risk, increased equipment breakdown and down time, and poor energy performance.

HELIXintel offers a comprehensive platform that sources and organizes property and asset data on a significant scale. Businesses can empower themselves by making strategic and informed decisions, unlocking hidden value within their properties and assets. This fuels engagement, transparency, and benefits all stakeholders in traditionally opaque industries.

"This new capital and National Grid's network help us expand our product offerings and reach," said Jon DeWald, CEO of HELIXintel. "We recognize that every stakeholder benefits when equipment breakdown is accurately predicted and prevented. We are poised to empower proactive maintenance and equipment upgrades that enhance efficiency, minimize downtime, and bring cost savings to both our valued customers and insurance companies."

National Grid, a leading provider of electricity, natural gas, and clean energy services to millions of customers in New York and Massachusetts and Great Britain, has long been at the forefront of embracing innovation and scalable energy technologies. In 2018, the company established National Grid Partners (NPG), a dedicated venture and innovation division, to further amplify its commitment to driving positive change in the industry. National Grid's investment in HELIXintel underlines its dedication to reaching net-zero emissions from its gas and electric networks by 2050.

With a strong focus on reducing energy demand, National Grid is actively implementing comprehensive energy initiatives and robust demand response programs. By doubling the rate of efficiency retrofits within the building sector, National Grid aims to ignite a significant transformation in energy consumption patterns. HELIXintel's cutting-edge platform plays a pivotal role in this strategy, seamlessly connecting property and asset stakeholders and enabling data-driven property management. Through this strategic relationship, National Grid and HELIXintel are fostering more efficient and sustainable operations across the industry.

"HELIXintel embodies the kind of transformative innovation National Grid Partners seeks to support," said Lisa Lambert, Chief Technology & Innovation Officer of National Grid and Founder & President of National Grid Partners. "Their predictive analytics and equipment management solutions have the potential to disrupt the energy and utility sector, enabling businesses to proactively address risks and enhance operational efficiency. We are excited to invest in HELIXintel and contribute to their growth as they pave the way for a more sustainable and resilient future."

"HELIXintel's integration of vital equipment data onto a single platform, empowers property owners, contractors, OEMs, insurers, and energy companies with excellent transparency and value," stated Timur Davis, Director at Munich Re Ventures. "Aligned with our investment focus on tools enabling preventative maintenance to mitigate equipment breakdowns, HELIXintel has consistently impressed us with their strong growth and progress since the Seed round. We eagerly anticipate the company's ongoing advancements."

The strategic partnership between HELIXintel and Munich Re's HSB has been a driving force behind the growth and industry influence of HELIXintel. This collaboration brings together HELIXintel's intuitive equipment management technology with over 150 years of HSB's expertise in equipment breakdown. Since the inception of the partnership, HELIXintel has rapidly expanded its presence across the nation, delivering innovative insurance technology solutions to prestigious clients such as the New York Schools Insurance Reciprocal and its 345 public K-12 Member Districts and BOCES. Together, HELIXintel and HSB are upleveling the way equipment risks are managed and paving the way for enhanced efficiency and protection in the insurance industry.

Ahead of its Series A funding round, HELIXintel unveiled its latest innovation, HELIXintel Savings Scout™. This groundbreaking service is specifically designed to assist businesses in identifying and applying for various forms of free funding, including rebates, grants, and tax credits, for operational and capital improvements. The business solution discovered incentives worth over $240,000 targeted at future cost reduction for a school in the Eastchester Union Free School District, highlighting substantial opportunities for improved efficiency and financial gains. HELIXintel Savings Scout™ further solidifies the company's position as a frontrunner in the equipment management industry, while propelling the future of equipment efficiency and a climate of continuous improvement.

"HELIXintel Savings Scout™ represents a transformative solution that opens doors to unparalleled opportunities for businesses," stated DeWald. "We are committed to maximizing efficiency and minimizing costs, and our innovative business solution exemplifies this vision. We can assist businesses in unlocking untapped potential and achieving remarkable outcomes."

This new investment round signifies a milestone in HELIXintel's mission to empower businesses by leveraging their platform as a Predictive and Preventive Engine™. Through strategic relationships with HSB, National Grid Partners, and a strategic HVAC partner, HELIXintel reinforces its leadership position in the equipment management industry while driving advancements in equipment efficiency and a culture of ongoing enhancement.

About HELIXintel:
HELIXintel sources and organizes the world's property and asset data. HELIXintel provides tools for insurers to better manage risk, property managers to manage their portfolio, energy companies to deliver incentives that improve energy and resource efficiency, and vendors to deliver better quality. HELIXintel has been recognized by Pepco, the utility serving Washington D.C., as the most innovative energy-saving solution of the year. HELIXintel also boasts SOC 2 Type 2 certification, continuing its commitment to cybersecurity. For more information on HELIXintel, visit their website.

About National Grid Partners:
National Grid Partners (NGP) is the venture investment and innovation arm of National Grid plc, one of the largest investor-owned energy companies in the world. NGP invests for strategic and financial impact and leads companywide disruptive innovation efforts. The organization provides a multi-functional approach to building startups, including innovation (new business creation), pathfinding and incubation, corporate venture capital, business development and venture acceleration. We also convene the NextGrid Alliance (www.ngalliance.energy), a network of senior executives from more than 100 worldwide utility companies. NGP is headquartered in Silicon Valley and has offices in Boston, London, and New York. Visit ngpartners.com or follow us at www.twitter.com/@ngpartners_ and www.linkedin.com/showcase/national-grid-partners.

About Munich Re Ventures (MRV):
Munich Re Ventures is the venture capital arm of Munich Re Group, one of the world's leading providers of reinsurance, primary insurance, and insurance-related risk solutions. With more than $1 billion in assets under management, Munich Re Ventures invests in the most innovative start-ups transforming the future of risk and risk transfer. MRV's experienced investors are financially driven, while focused on the strategic interests of Munich Re and the broader insurance industry. MRV works closely with Munich Re Group businesses across the globe to fund and partner with the best emerging companies developing new technologies and business models – and risks – for tomorrow's world.

About Hartford Steam Boiler (HSB):
HSB, part of Munich Re, is a multi-line specialty insurer and provider of inspection, risk management, and IoT technology services. HSB insurance offerings include equipment breakdown, cyber risk, specialty liability, and other coverages. HSB blends its engineering expertise, technology, and data to craft inventive insurance and service solutions for existing and emerging risks posed by technological change. Throughout its 150-year history, HSB's mission has been to help clients prevent loss, advance sustainable use of energy and build deeper relationships that benefit businesses, public institutions, and consumers. HSB holds A.M. Best Company's highest financial rating, A++ (Superior). For more information, visit www.hsb.com.

SOURCE HELIXintel