I am so excited to announce that we’ve closed our seed round of $2.2 million, from an incredible group of investors, but more on that later.
Back in 2013, when we started ecovent, we knew we would need to raise money. We were naive to think that if we built an awesome system, we could convince investors, all on our own, to give us their hard earned cash to continue the pursuit of this incredible challenge.
I lack the words to truly articulate the impact that MIT, the Boston entrepreneurial ecosystem, and techstars has had, not only on ecovent, but also on my life. In my previous life, I worked at company where we achieved the impossible, despite the culture of the company, not as a result of it.
Before Boston, I lived in a world where new ideas were met with skepticism and, “here’s the problem.” In Boston, I was met with, “Okay that’s great,” and “How can I help?”
Ask for help, and accept the feedback
Boston is special. When people here say, “how can I help?” they mean it.
When Yoel and I were at MIT, we were fortunate to meet Bill Aulet and Christina Chase among many other incredible educators at MIT and the Martin Trust Center. Bill preaches, “ideas are meaningless, it’s about execution.” We took this to heart, and asked everyone we could find for help. We had mentors giving us sage advice, before we truly appreciated the value of the time they were giving us. A fella by the name of Mike Cassidy would literally blow our minds every time we would chat. We would have a meeting with MIT’s Venture Mentoring Service, and walk away both terrified and excited. That was only the beginning. We learned that the more we asked – the more people wanted to help. We thought this was MIT only, until we met Mitch Tyson, who spent 3 hours with Yoel and me shredding our deck and business plan.
Then we got into techstars. We met Katie Rae, Reed Sturtevant, Bob Mason, Semyon Dukach, Tuan Pham and Rohit Gupta – all of whom pushed us harder than we ever thought possible. Do More Faster indeed. Through techstars we met some of the most incredible mentors and advisers a company could ask for.
We loved every second, and we’ve since asked a crapload more people for help. This list is very long, but that’s the point. Everyone on this list has impacted ecovent’s success – and as a result, they will gain a spot on our Wall of Supporters.
Make no mistake, without the help of these incredible people, we would be 12 months behind where we are now. These are the people that helped us realize how fast we could truly move, and what pitfalls to avoid. We’ve hit problems for sure, but thanks to the stunning community here in Boston, we overcame them the same way the Eagles defensive line overcame the Giants Sunday night (sorry, you can take the boy out of Philly!).
So, to all our mentors, investors, advisers, critics, champions, significant others, families, and pets: Thank you. You’re awesome.
This summer, Yoel, Shawn, Nick and I really spent time thinking through the company’s mission and values. Since the team had grown, it was important to us to get our vision down on paper, and share it with the team. I’m excited to share it with you today.
Our Mission: Exceptional talent solving the world’s biggest overlooked problems.
We are doing just that. It’s time to make homes comfortable and efficient, and to do it in a way that’s easy for anyone to install and use. There are 74 Million homes in the US with forced air heating and cooling (and this number is growing). These homes aren’t efficient, and we’re out to fix that. Betas are installed and we’re learning a ton. Scott’s blog post describes a single case study; we’ll have more in the coming months.
This seed funding will accelerate our system development and bring us to production. In months, ecovent will go to production, and a few months after that, we will make your home comfortable and efficient. We will also launch pilot systems with channel partners such as HVAC (Heating Ventilation and Air Conditioning) Contractors, Builders, Utilities and others who are joining ecovent to get this product into the hands of homeowners nationwide.
Our investors are led by an incredible family office called Otter Consulting, Semyon Dukach, Atlas Venture via the Boston Syndicates (BOSS), David Bates, Warren Katz, Will Herman, Michael Mark, Julia Austin, Oliver Steele, Walter Turek, The Where Angels Fund, and others. They join our previous angels in helping ecovent realize our mission.
We are so excited to hit the gas and with these investors joining us, we’re going supersonic. It’s go time.
Want to help?
Please reach out!! We want to hear from you.
Want to be comfortable?
Reserve your system now! Save your spot in line at a great discount!! And do your friends a favor and share our link on Facebook and Twitter. They’ll thank you as they lounge in their comfortable homes while pampering themselves using cash that would have otherwise been spent on wasted energy and high utility bills.