About Parity
Parity is a company based in Toronto (Canada) founded in 2018 by Brian MacLeod and Brad Pilgrim. It operates as a SaaS (Software-as-a-Service), and Managed Services. Parity has raised $35.73 million across 6 funding rounds from investors including SVB, New York State and Wyse Meter. Parity offers products and services including Optimizer. Parity operates in a competitive market with competitors including OVO Energy, ecobee, Particle, Signify and Hometree, among others.
- Headquarter Toronto, Canada
- Founders Brian MacLeod, Brad Pilgrim
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Sectors
Business ServicesEnergy & Utilities Technology
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Email
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Phone
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Website
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Social
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- Legal Name Parity Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$35.73 M (USD)
in 6 rounds
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Latest Funding Round
$19 M (USD), Series B
Jun 11, 2024
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Investors
SVB
& 5 more
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Employee Count
Employee Count
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Products & Services of Parity
Parity offers a comprehensive portfolio of products and services, including Optimizer. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
HVAC systems are optimized remotely for energy efficiency.
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Funding Insights of Parity
Parity has successfully raised a total of $35.73M across 6 strategic funding rounds. The most recent funding activity was a Series B round of $19 million completed in June 2024. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 6
- Last Round Series B — $19.0M
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First Round
First Round
(02 May 2019)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2024 | Amount | Series B - Parity | Valuation | Idealist Capital | |
| Oct, 2023 | Amount | Debt – Conventional - Parity | Valuation |
investors |
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| Oct, 2022 | Amount | Series B - Parity | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Parity
Parity has secured backing from 6 investors, including institutional and venture fund investors. Prominent investors backing the company include SVB, New York State and Wyse Meter. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on multiple sectors
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Founded Year | Domain | Location | |
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Venture capital fund focused on the real estate startups
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Founded Year | Domain | Location | |
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Provides the information about government agencies in New York
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Parity
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Parity
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Parity Comparisons
Competitors of Parity
Parity operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as OVO Energy, ecobee, Particle, Signify and Hometree, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Renewable energy is supplied via app-based platform by OVO Energy.
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| domain | founded_year | HQ Location |
Provider of smart thermostats for commercial and residential applications
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| domain | founded_year | HQ Location |
IoT connectivity platform from prototype to production is developed.
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| domain | founded_year | HQ Location |
Signify is recognized as a global leader in lighting solutions.
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| domain | founded_year | HQ Location |
Provider of an online platform for home insurance
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| domain | founded_year | HQ Location |
End-to-end energy management solutions are provided for utilities worldwide.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Parity
Frequently Asked Questions about Parity
When was Parity founded?
Parity was founded in 2018 and raised its 1st funding round 1 year after it was founded.
Where is Parity located?
Parity is headquartered in Toronto, Canada. It is registered at Toronto, Ontario, Canada.
Who is the current CEO of Parity?
Brad Pilgrim is the current CEO of Parity. They have also founded this company.
Is Parity a funded company?
Parity is a funded company, having raised a total of $35.73M across 6 funding rounds to date. The company's 1st funding round was a Series B of $8M, raised on May 02, 2019.
What does Parity do?
HVAC systems are managed and optimized in real-time by Parity through remote control adjustments. Energy efficiency is enhanced, and building operations are improved for multifamily buildings and hotels across North America. Compliance with building performance standards is supported, sustainability performance is boosted by reducing CO2 emissions, and demand response revenue is maximized. Utility cost savings are guaranteed, and operational efficiency is improved by reducing staff workload.
Who are the top competitors of Parity?
Parity's top competitors include OVO Energy, ecobee and Particle.
What products or services does Parity offer?
Parity offers Optimizer.
Who are Parity's investors?
Parity has 6 investors. Key investors include SVB, New York State, Wyse Meter, ArcTern Ventures, and Idealist Capital.