Quilt, a Redwood, California-based start-up that makes sleek heat pumps, has raised $20 million on the doll side that closed recently. The company previously added $33 million to the series, which was announced in April 2024.
The new round is led by influential and galvanizing partners with the participation of alumni ventures, gradient ventures, good ventures, and lower capital. Galvanize’s Veey Maxwell will join the board, as will former Nest Cfo Tom Vonreichbauer. (The latter should come as no surprise since many experts use the query in the nest.)
The new funding will go to the company’s feet. Quilt has installed nearly 1,000 units in 16 US states and five Canadian provinces, Co-Founder and CEO Paul Lambert at A record posted on the company’s website.
Quilt has become a rare incumbent in the heat pump market. To counter this, the company has taken a software- and software-first approach. One example is the company’s over-the-air updates for installed heat pumps; New software and firmware improve the performance of existing units by more than 20%See rank-.