Proptech company Parity lands $5 mln in ArcTern-led Series A
Toronto-based property technology company ParityGo Inc has secured $5 million in a Series A financing. The round was led by Canadian clean technology venture capital firm ArcTern Ventures. Parity has developed an energy management system that controls existing heating, ventilation and air conditioning equipment using cloud-based artificial intelligence. The system enables energy savings for condos and other multi-residential buildings. Founded in 2015 by CEO Brad Pilgrim and COO Brian MacLeod, Parity will use the funds raised to expand into the U.S. market. Parity is the first deal of ArcTern Ventures Fund II, which last October raised an initial $60 million.
2 May 2019•4 mins read
