Press Release • April 16, 2024

Quilt raises $33M to launch the smartest way to heat and cool your home

With investment from Energy Impact Partners, Galvanize Climate Solutions, and HGTV’s Property Brother Drew Scott, Quilt is set to usher in the era of sustainable home heating and cooling.
Redwood City, CA

Quilt, the smart home climate solution company, today announced its $33M Series A funding round co-led by Energy Impact Partners and Galvanize Climate Solutions, with participation from Lowercarbon Capital, Gradient Ventures, MCJ Collective, Garage Capital, Incite Ventures, and Drew Scott.

Quilt was founded because 20% of U.S. global warming emissions come from homes. The largest driver of home emissions is burning fossil fuels for heat. With a best-in-class team including key hires from Google, Apple, Nest, and Tesla, Quilt is building a smart home climate solution that’s more efficient and intuitive than anything on the market today.

This funding will fuel Quilt’s launch and expansion into homes across the country to supercharge the clean energy transition. Quilt will first launch in the Bay Area, followed by Los Angeles, and then expand to new markets in the U.S. to meet rising demand for a smart, intuitive, design-forward heat pump option. Quilt’s waitlist has thousands of interested homeowners.

“The promise of the energy transition is that the future won’t just be sustainable – it will be much better,” said Paul Lambert, Co-founder and CEO, Quilt. “This promise has attracted world-class talent and investors to Quilt. Together, we’ve built the smartest way to heat and cool a home, for any homeowner who cares about comfort, control, design, or their energy bills.”

“The promise of the energy transition is that the future won’t just be sustainable — it will be much better. This promise has attracted world-class talent and investors to Quilt.”
Paul Lambert
Co-founder and CEO, Quilt

“One of our core beliefs for decarbonization is making the right thing for the planet also the easy thing to do. Quilt’s integrated hardware and smart technology strikes the perfect optimization of customer comfort, energy costs, and demand flexibility, enabling rapid residential electrification while still ensuring electric grid reliability,” said Sameer Reddy, Managing Partner, Energy Impact Partners. “Quilt is redefining one of the most impactful systems within the home to unlock the full potential of electrification across our daily lives, our grid, and our planet. We’re proud to support Quilt’s world-class team as they deliver on their vision.”

“We’ve reached an inflection point in the energy transition and the shift from gas to electric heating and cooling is not only imperative but also inevitable. Quilt’s approach to climate control brings homeowners a superior heat pump experience while also reducing their energy bills,” said Tom Steyer, Co-Executive Chair, Galvanize Climate Solutions. “Quilt is proof of our belief that practical, impactful, and economically viable solutions can improve the quality of life for homeowners while also driving the electrification movement forward.”

With Quilt’s advanced heat pump technology, homeowners will get a sleek, modern system designed to blend seamlessly into any home environment, combined with intuitive room-by-room control, occupancy awareness, and predictive technology for unmatched energy efficiency and comfort.

“As someone who has spent years transforming homes and understanding homeowners’ needs, I’ve been eagerly waiting for a breakthrough like this,” said investor, entrepreneur, and HGTV’s Property Brother Drew Scott. “Quilt is going to make a massive impact on how we heat and cool our homes and put the control back in the hands of the homeowner, making sure the future of home climate control is not just innovative, but also undeniably cool.”