Today we're excited to share that Coral has raised $7.5M in Seed funding to make energy-efficient upgrades affordable for every building owner in America.
We are thrilled to partner with an incredible group of fintech and energy investors to help us achieve our vision. The round was led by ResilienceVC, with participation from Twelve Below, Floating Point, Accion Ventures, Blackhorn Ventures, Remarkable Ventures and New Climate Ventures. The round also includes a strategic investment from Watsco Ventures, a business unit of Watsco, Inc., the largest HVAC distributor in North America.
Since we launched Coral two years ago we've always believed the energy transition was blocked by something fundamental – affordability. The technical performance of heat pumps, water heaters, and batteries has improved dramatically in recent years and these systems significantly reduce energy bills, but upfront costs for these upgrades are just too high. The median US household has $8K in total savings, and expecting the average homeowner to pay thousands more upfront for future energy savings is simply a pipe dream.
We built Coral to tackle this problem head-on. Leading installers use our AI-native platform to navigate complex utility and government incentives and apply them instantly at the point of sale, reducing the upfront cost of high-efficiency systems for their customers. Our installer partners have already sold nearly 4,000 systems through Coral, and we're just getting started.
We've already launched in Massachusetts, Connecticut, and New York and proven we can meaningfully accelerate electrification with instant rebates and financing. We've partnered with over 100 leading installers in the northeast and helped them lower upfront costs by 30%.
Without Coral, navigating utility and government incentive programs can be incredibly painful. Homeowners and contractors have to understand complex eligibility requirements, spend hours filing incentive applications, and wait months to receive a rebate check worth thousands of dollars. Coral makes this effortless - our point-of-sale software verifies incentive eligibility, manages applications end-to-end, and delivers funds instantly. Our contractor partners can confidently offer a much lower price net of incentives, vastly improving the customer experience and driving higher sales conversion.
We've seen explosive growth in our northeast markets since launching, and are already bending the adoption curve towards electrification – in 2025, nearly 10% of rebate-eligible residential heat pumps in Massachusetts were sold with Coral. This fundraise will help us scale the model we've already proven in the northeast across the country.
Our mission is to make energy-efficient upgrades accessible to every building owner in America. This funding will help us accelerate electrification across the US through four key levers:
Sustainable building upgrades represent a $450B market in the US, but today, the financial infrastructure to unlock this opportunity is missing. That's what we're building at Coral.
The transition to energy-efficient building infrastructure is one of the most critical shifts of the next decade. We could not be more excited to accelerate this transition and transform an industry - helping our contractor partners grow their businesses, helping homeowners save money, and decarbonizing buildings with every project we support. We're actively hiring across the team and partnering with industry leaders and technology innovators to help us scale. If you're excited about building the financial infrastructure for the energy transition, we'd love to meet you.
If you're a contractor interested in instant incentives, book a demo here. If you're excited about building the financial infrastructure for the energy transition, we're hiring.
Interested in Coral? Get in touch →
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