Sealed Unveils Sealed Pro and Secures $30 Million in Funding
Sealed, a pioneering residential energy efficiency enterprise based in New York, has recently made headlines with two major announcements. The company has not only introduced Sealed Pro, a revolutionary software platform aimed at enhancing home energy improvement projects, but it has also successfully closed a $30 million funding round. This significant financial backing comes from industry leaders Keyframe Capital and Cyrus Capital, with notable contributions from CityRock, Fifth Wall, and several others.
This latest funding initiative signifies a strategic pivot for Sealed as the company shifts its operational focus from B2C (business-to-consumer) to B2B (business-to-business). By providing contractors with comprehensive support including data, project planning, and financing solutions, Sealed is pioneering a new phase in its mission to foster energy efficiency nationwide.
Introducing Sealed Pro
Sealed Pro stands at the forefront of Sealed’s transition towards serving contractors who specialize in home efficiency and electrification. Specifically designed to tackle the cumbersome and often slow processes associated with securing rebates, Sealed Pro aims to streamline the workflow for home energy contractors. These professionals often navigate through a maze of complex paperwork and overlapping program requirements, all while managing tight payment terms that can strain their cash flow.
The software’s debut is perfectly timed to address the increased challenges presented by the Inflation Reduction Act (IRA), which introduced over $8 billion in funding for home energy rebates. By leveraging data, analytics, software, and a decade’s worth of experience in the residential energy sector, Sealed is poised to maximize the impact of these public investments and drive significant market transformation.
Through a user-friendly web interface accessible on mobile, tablet, and desktop devices, Sealed Pro simplifies the entire rebate application process for contractors. It offers guaranteed rebate amounts and makes upfront payments to contractors, thus securing their revenue and profitability with zero risk involved.
A Testimonial to Success in California
Initial feedback from California, where Sealed Pro was first launched, has been overwhelmingly positive. Contractors within Ventura, San Luis Obispo, and Santa Barbara Counties have successfully submitted $1 million in rebates through the platform. Sealed Pro not only ensures an efficient planning and registration process for projects but also provides quick and reliable estimates on incentive payments. The speed of this process has markedly improved, with contractors receiving payments for their projects in as little as ten days post-installation.
As an aggregator, Sealed significantly reduces the administrative burden on contractors, facilitating quicker payments and streamlined project tracking. This, in turn, has opened up energy efficiency programs to a wider array of contractors and homeowners who might have otherwise been deterred by the complexity and risks associated with rebate processes.
Expansion and Future Expectations
With 80% of contractors using Sealed Pro in California being new to the 3C-REN program, the platform’s success demonstrates its potential to transform rebate processing and project planning nationwide. As Sealed prepares to roll out Sealed Pro across more states, the company remains committed to minimizing performance risk and administrative costs, thereby ensuring the effective utilization of taxpayer dollars for genuine energy savings.
Driving Industry Transformation
Ryan Bevans, Chief Revenue Officer at Sealed, shared his perspective on the impact of these innovations: “Contractors carry the burden of our industry’s ever-increasing complexity. We see them spending more and more time navigating rules and paperwork which distracts, or even restricts, them from the hands-on work that we all depend on them to do. We believe rebates can be both easy and effective and Sealed Pro is helping to achieve this. More homeowners are accessing available rebates while contractors of all sizes are increasing profits and reclaiming their time. These are true industry wins.”
As Sealed continues to evolve and expand its offerings with Sealed Pro and benefits from substantial financial backing, the future looks bright for contractors and homeowners alike. The company’s innovative approach promises a more streamlined, efficient, and profitable path towards residential energy efficiency and electrification nationwide.
