EnergyCAP Draws New PE Backing

LLR Partners has made a strategic investment in EnergyCAP, a utility and energy management software provider, joining existing investor Resurgens Technology Partners.

The companies did not disclose the investment amount, ownership stakes or EnergyCAP’s valuation. Resurgens, which first invested in EnergyCAP in 2021, will remain an active investor.

EnergyCAP brings utility bills, energy usage and emissions data into a single platform for finance, facilities and sustainability teams. The State College, Pennsylvania-based company said more than 750 organizations use its software and collectively track more than $50 billion in utility bill value each year. Its customers span government, education, health care and commercial sectors.

The investment will support EnergyCAP’s product roadmap and market expansion as customers seek to control utility spending and manage changing energy needs. The company has added automation and artificial intelligence capabilities to help users analyze data, identify issues and streamline reporting.

“Utility spend is one of the largest operating expenses that many organizations still manage in spreadsheets,” EnergyCAP CEO Shawn Lankton said in the announcement. He said the new partnership would help customers identify efficiencies they previously could not see.

The deal adds to LLR’s investments in software and technology-enabled companies. The Philadelphia-based private equity firm said it has raised more than $7.9 billion across seven funds and partnered with more than 140 companies since its founding in 1999.

William Blair served as financial advisor and King & Spalding served as legal counsel to EnergyCAP and its shareholders. Goodwin Procter LLP served as legal counsel and Lincoln International served as financial advisor to LLR.