Serious Materials, a U.S. company producing energy-saving building materials, announced the close of $60 million in Series C financing. The round was led by Mesirow Financial, a diversified financial services firm in Chicago.
Additional new investors included Enertech Capital, Cheyenne, and Saints Capital. Previous investors including New Enterprise Associates (NEA), Foundation Capital, Rustic Canyon Partners, Navitas Capital, and Staenberg also participated in this funding round, bringing Serious Materials’ total raised capital to more than $120 million.
The funds will be used to accelerate the rapid growth of the company and complete development of next generation, energy-saving building products.
“We are on an important mission to help dramatically save energy, reduce CO2 emissions and stabilize the climate,” said Kevin Surace, CEO, Serious Materials. “Dramatic and disruptive innovation must happen now and on a broad scale. Windows offer the largest opportunity for improvement--fastest payback and highest energy savings. If all buildings in America were to use super-insulating full-frame high R-value windows of R-5.0 or more, versus standard single or dual pane windows, CO2 emissions would be reduced by some 200 million metric tons annually.”
Serious Materials products are manufactured in the company’s five facilities across North America. In January, the company purchased a window factory in Pennsylvania to increase capacity.
In June, UL Environment validated Serious Materials' environmental claims for its new drywall product, EcoRock(TM).
