OnPoint Technologies, the US army private equity fund, has helped Blue Pillar, a US-based energy asset management software company, raise $7m.
OnPoint was joined in the series B round by venture firms Claremont Creek Ventures, Arsenal Venture Partners and Allos Ventures.
Blue Pillar’s software allows healthcare, manufacturing, telecom, military, government and other facilities’ energy assets to be used as micro grids. Paul Straub, of Claremont Creek, Jason Rottenberg, of Arsenal, and John McIlwraith, of Allos, will join Blue Pillar’s board.
Last year Blue Pillar raised $1m of a planned $2.5m round, according to a filing with the Securities and Exchange Commission. In 2008 it raised a $1.3m round, another filing said.