About Quilt
Quilt is a company based in Redwood City (United States) founded in 2022 by Matthew Knoll, Bill Kee, and Paul Lambert. It operates as a Direct-to-Consumer (D2C), and Product-as-a-Service. Quilt has raised $62 million across 3 funding rounds from investors including Lowercarbon Capital, Gradient Ventures and Garage Capital. Quilt offers products and services including Quilt Heat Pump, Quilt Dial, and Quilt App. Quilt operates in a competitive market with competitors including NIBE Group, GridPoint, Aira, Systemair and Encycle, among others.
- Headquarter Redwood City, United States
- Founders Matthew Knoll, Bill Kee, Paul Lambert
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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 Quilt Systems, 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
$62 M (USD)
in 3 rounds
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Latest Funding Round
$20 M (USD), Series B
Dec 08, 2025
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Investors
Lowercarbon Capital
& 12 more
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Employee Count
Employee Count
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Products & Services of Quilt
Quilt offers a comprehensive portfolio of products and services, including Quilt Heat Pump, Quilt Dial, and Quilt App. 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.
Efficient ductless heat pump for home climate control.
Compact thermostat for room-by-room climate control ease.
App for remote control and energy usage insights.
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Funding Insights of Quilt
Quilt has successfully raised a total of $62M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $20 million completed in December 2025. 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 3
- Last Round Series B — $20.0M
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First Round
First Round
(16 May 2023)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2025 | Amount | Series B - Quilt | Valuation | Energy Impact Partners , Galvanize Climate Solutions | |
| Apr, 2024 | Amount | Series A - Quilt | Valuation | Energy Impact Partners , Galvanize Climate Solutions | |
| May, 2023 | Amount | Seed - Quilt | Valuation | Lowercarbon Capital , Gradient Ventures |
| 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 Quilt
Quilt has secured backing from 13 investors, including venture fund, institutional, and angel investors. Prominent investors backing the company include Lowercarbon Capital, Gradient Ventures and Garage Capital. 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 fund focused on tech startups
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Founded Year | Domain | Location | |
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Venture capital arm of Alphabet Inc. investing in AI
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Founded Year | Domain | Location | |
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Seed-stage investments are made by Garage Capital across multiple sectors.
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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 Quilt
| 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 - Quilt
| 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 |
Quilt Comparisons
Competitors of Quilt
Quilt 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 NIBE Group, GridPoint, Aira, Systemair and Encycle, 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 |
Provider of sustainable energy solutions contributing to reducing greenhouse gas emissions globally
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| domain | founded_year | HQ Location |
Provider of data-driven energy management solutions
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| domain | founded_year | HQ Location |
Air-source heat pumps for residential heating efficiency are provided.
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| domain | founded_year | HQ Location |
Sustainable HVAC products and systems are manufactured for various sectors.
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| domain | founded_year | HQ Location |
Wireless energy management solutions are provided for demand reduction.
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| domain | founded_year | HQ Location |
Provider of smart device to connect and control home AC
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| Company Name | Domain | Founded year | HQ Location | Description |
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| 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 Quilt
Frequently Asked Questions about Quilt
When was Quilt founded?
Quilt was founded in 2022 and raised its 1st funding round 1 year after it was founded.
Where is Quilt located?
Quilt is headquartered in Redwood City, United States. It is registered at Redwood City, California, United States.
Who is the current CEO of Quilt?
Paul Lambert is the current CEO of Quilt. They have also founded this company.
Is Quilt a funded company?
Quilt is a funded company, having raised a total of $62M across 3 funding rounds to date. The company's 1st funding round was a Seed of $9M, raised on May 16, 2023.
What does Quilt do?
Quilt is known for providing advanced ductless heat pump systems designed for efficient home heating and cooling. Solutions are offered in the home automation and smart HVAC sector, focusing on energy efficiency through features like occupancy sensing and over-the-air updates. Products such as the Quilt Indoor Unit, Outdoor Unit, Dial, and App are integrated to deliver personalized climate control for residential spaces. Partnerships with certified installers across the USA ensure quality service and installation.
Who are the top competitors of Quilt?
Quilt's top competitors include Cielo WiGle, Transaera and NIBE Group.
What products or services does Quilt offer?
Quilt offers Quilt Heat Pump, Quilt Dial, and Quilt App.
Who are Quilt's investors?
Quilt has 13 investors. Key investors include Lowercarbon Capital, Gradient Ventures, Garage Capital, MCJ Collective, and Incite Ventures.