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§ Private Profile · Brooklyn, NY, USA
Climate technology company financing and installing clean energy and efficiency upgrades for buildings in underserved communities.
Based in Brooklyn, New York, BlocPower is a climate technology company that analyzes, finances, and installs clean energy and energy efficiency upgrades in urban buildings. The enterprise targets underserved communities by connecting building owners with impact investors through an online marketplace to fund green retrofits for residential, commercial, and municipal properties. In a notable municipal partnership, the company is working with the City of Ithaca to electrify more than 6,000 buildings by the end of the 2030 calendar year. The organization operates with approximately 21 employees and generated $93 million in revenue during the 2023 fiscal year. To support its decarbonization initiatives, BlocPower has secured financial backing from prominent institutional investors and venture capital firms, including Goldman Sachs, Andreessen Horowitz, Microsoft, and Kapor Capital. The climate technology company was founded in 2013 by Donnel Baird.
BlocPower has raised $266.8M across 8 funding rounds.
BlocPower has raised $266.8M in total across 8 funding rounds.
BlocPower has raised $266.8M across 8 funding rounds. Most recently, it raised $154.0M Debt / Series B in March 2023.
BlocPower is a black-owned climate tech company founded in 2014 in Brooklyn, New York, that builds proprietary software and provides services to analyze, finance, manage, and upgrade energy-inefficient urban buildings with smart, electric, and energy-efficient technologies.[1][2][3][4] It serves building owners, developers, and communities—particularly in low-income urban areas—by solving the problem of high energy costs, carbon emissions, and outdated infrastructure through decarbonization retrofits that deliver 20-40% energy bill savings, greener buildings, and green job creation.[2][3][4][5] The company has completed projects in over 1,200 buildings ahead of schedule and under budget, earning recognition as Fast Company's #4 Most Innovative Company in 2022, with backing from top investors like Goldman Sachs, Andreessen Horowitz, Microsoft's Climate Innovation Fund, and the Bezos Earth Fund.[3][6]
BlocPower's growth momentum includes major funding, such as $30 million from Microsoft in 2022 for retrofitting old city buildings, and partnerships like the one with Georgetown's Environmental Impact Data Collaborative to provide the nation's largest building energy efficiency dataset, aiding national decarbonization efforts.[5][6]
BlocPower was founded in 2014 by Donnel Baird and Morris Cox in Brooklyn, New York, emerging from a mission to address energy inefficiency in urban buildings, especially in underserved communities facing high energy costs and health risks from outdated systems.[1][3][6] Baird, with a background in tech and social impact, identified the opportunity while witnessing the climate and economic burdens on low-income neighborhoods, leading to the development of proprietary software for clean energy projects.[2][6] Early traction came from delivering results under budget and ahead of schedule in initial projects, scaling to over 1,200 buildings and securing high-profile investments like those from Kapor Capital and Goldman Sachs, which fueled expansion into job creation and community health benefits.[3][6]
BlocPower rides the building decarbonization trend, a critical wave in climate tech as buildings account for a major share of U.S. emissions, amplified by new regulations, federal incentives like the Inflation Reduction Act, and corporate net-zero pledges.[4][5] Timing is ideal amid rising energy costs, urban electrification demands, and socioeconomic pressures in disadvantaged communities, where BlocPower's data-driven insights reveal high energy intensity and retrofit potential.[5] Market forces favoring it include investor focus on impact tech, tech advancements in IoT and AI for energy management, and policy pushes for greener infrastructure.[3][6] It influences the ecosystem by greening cities, fostering green jobs, enabling data platforms for researchers and policymakers, and proving scalable models for equitable climate solutions.[1][2][5]
BlocPower is poised to accelerate as U.S. building retrofits surge under stricter emissions rules and climate funding, potentially expanding to thousands more buildings with its tech-finance hybrid model.[3][4][5] Trends like AI-optimized energy systems, deeper public-private partnerships, and global decarbonization mandates will shape its path, amplifying impact in underserved areas.[2][6] Its influence may evolve from urban pioneer to national infrastructure player, setting standards for inclusive green tech and tying back to its core promise: transforming buildings into climate solutions that build community wealth.
BlocPower has raised $266.8M in total across 8 funding rounds.
BlocPower's investors include Goldman Sachs, Kareem Dabbagh, Christiana Musk, Kimbal Musk, Russell Westbrook, Van Jones, Credit Suisse, Gaingels, Kapor Capital, MCJ Collective, Microsoft, New York Ventures.