Quilt, a company revolutionizing home heating and cooling, has successfully closed a $20 million Series B fundraising round, elevating its total funding to $64 million. This funding round was co-led by Galvanize and Energy Impact Partners (EIP), with support from Gradient Ventures, Lowercarbon Capital, Incite Ventures, and Alumni Ventures.
The investment will be pivotal in extending Quilt's reach across the United States and bolstering advancements in its software and product offerings.
Expanding Clean Energy Ventures
The company's recent appointment to its board of directors includes former Sunrun and Nest CFO Tom von Reichbauer and Galvanize Partner Veery Maxwell.
Both von Reichbauer and Maxwell bring substantial experience in scaling climate technology firms and managing extensive clean-energy investments, complementing Quilt's operational and financial strategies.
Growth in Heat Pump Adoption
Further emphasized the value of Quilt's funding in enriching homeowner comfort, design, and efficiency
CEO and Co-founder of Quilt, Paul Lambert, highlighted, "Fifteen percent of U.S. emissions come from homes, with HVAC as the biggest driver. Heat pump adoption is growing—shipments now outpace traditional split systems—but the market has been held back by products that didn't fully deliver what HVAC dealers and homeowners were looking for."
He further emphasized the significance of Quilt's funding in enhancing homeowner comfort, design, and efficiency.
Expansion and Market Growth
Over the past year, Quilt expanded its footprint from the San Francisco Bay area to 16 U.S. states and five Canadian provinces, experiencing a significant increase in demand. Homeowner inquiries surged by 394%, while inbound partner leads soared by 409%.
Veery Maxwell of Galvanize expressed enthusiasm about the partnership, stating, "Quilt is positioned to capture increased market share in the heat pump and home climate solutions market, while delivering measurable residential decarbonization."
Efficiency and Technology Advancements
Quilt's efficiency innovations offer significant savings for homeowners while alleviating pressure on infrastructure
With rising residential electricity costs and increasing grid strain, Quilt's efficiency innovations offer significant savings for homeowners while alleviating pressure on infrastructure.
Sameer Reddy, Managing Partner at Energy Impact Partners, commented, "Quilt combines a best-in-class consumer and installer experience with the kind of load flexibility and efficiency that the electric grid needs in a period of rapid AI load growth and rising electricity costs."
Innovative Design and Functionality
Quilt's heat pump design is notably compact and efficient, featuring indoor units that are less than eight inches tall with customizable covers and built-in lighting.
The system boasts a SEER2 rating of 25 and an HSPF2 of 12, marking it as the most efficient among its kind, outperforming other systems by a wide margin in terms of both cooling and heating efficiency.
Intelligent Features and Cutting-Edge Updates
Quilt systems adapt and improve, enhancing efficiency and adding features such as Auto-Away functionality
Quilt offers intelligent heat pump systems with advanced processing capabilities, allowing for granular energy usage tracking and real-time monitoring.
Through over-the-air updates, Quilt systems adapt and improve, enhancing efficiency and adding features such as Auto-Away functionality based on occupancy detection, which also prioritizes user privacy.
Certified Partner Network
Quilt collaborates with Certified Partners to facilitate the sales, installation, and maintenance of its systems.
The program provides HVAC service providers with unique offerings, including remote diagnostics, over-the-air updates, and comprehensive support, along with marketing tools to enhance their competitive edge in the market.
Quilt, the smartest way to heat and cool the home, now announced the closing of a $20 million Series B fundraising round, bringing its total funding to $64 million. The round was co-led by Galvanize and Energy Impact Partners (EIP), with participation from Gradient Ventures, Lowercarbon Capital, Incite Ventures, and Alumni Ventures.
As demand for Quilt’s heat pump systems continues to grow, this investment will accelerate the company’s commercial expansion across the United States, as well as drive continued innovation in Quilt’s software platform and product line.
Clean-energy investments
The company also announced that former Sunrun and Nest CFO Tom vonReichbauer and Galvanize Partner Veery Maxwell are joining its board of directors.
Together, Veery and Tom bring deep expertise in scaling climate technology companies — from early-stage ventures and public-market pioneers to guiding multi-billion-dollar clean-energy investments — along with proven strength in operational execution and financial strategy.
Heat pump adoption
"Fifteen percent of U.S. emissions come from homes, with HVAC as the biggest driver. Heat pump adoption is growing — shipments now outpace traditional split systems — but the market has been held back by products that didn't fully deliver what HVAC dealers and homeowners were looking for," said Paul Lambert, CEO and Co-founder of Quilt.
"Our growth demonstrates that when you solve for comfort, design, and efficiency simultaneously, adoption accelerates. This funding enables us to bring that experience to millions more North American homes."
Heat pump and home climate solutions
During 2025, Quilt’s presence expanded from the San Francisco Bay area to sixteen U.S. states and five Canadian provinces. In recent months, the company has seen significant growth in demand from both homeowners and installation partners, with homeowner leads up 394% and inbound partner leads up 409%.
“Galvanize is thrilled to deepen its partnership with Quilt and help the company accelerate its commercial momentum. Quilt is positioned to capture increased market share in the heat pump and home climate solutions market, while delivering measurable residential decarbonization,” said Veery Maxwell, Partner and Co-Head of Venture & Growth at Galvanize.
Quilt's efficiency advantages
With residential electricity costs rising 6.5% year-over-year and grid strain driving prices higher in data center hotspots, Quilt's efficiency advantages help homeowners reduce their bills year-round while easing pressure on aging infrastructure.
"Quilt combines a best-in-class consumer and installer experience with the kind of load flexibility and efficiency that the electric grid needs in a period of rapid AI load growth and rising electricity costs,” said Sameer Reddy, Managing Partner at Energy Impact Partners. “We are proud to deepen our partnership with the company in this next phase of growth.”
More homeowners and HVAC service providers are choosing Quilt
Quilt is the first ductless heat pump designed as an architectural element, with indoor units under eight inches tall to fit above doors and windows, customizable covers that integrate with any interior, and built-in accent lighting that transforms units into design features.
In addition to its elevated design, Quilt is the most efficient heat pump of its kind:
System Efficiency
SEER2 rating of 25 & HSPF2 of 12, highest efficiency ratings of any 2-zone ductless heat pump
- 20% more efficient than comparable ductless heat pumps
- 80% more efficient at cooling than what most North Americans have in their homes now
- 400% more efficient at heating than what most North Americans have in their homes now
- These efficiency improvements reduce grid strain while lowering homeowner bills
Intelligent heat pump in the market
Quilt is also the most intelligent heat pump in the market. Indoor units contain as much processing power as an iPhone — 500 times more than existing heat pumps — enabling features including:
Granular Energy Usage Tracking
- Real-time monitoring down to the hour for each room
- Homeowners see exactly where energy is consumed
- Enables data-driven decisions about system usage
- Comprehensive reporting through iOS and Android apps
Over-the-Air Updates
- The system only gets smarter over time with over-the-air updates that deliver new features and increased efficiency
- In September, every installed system experienced a 22% cooling and 23% heating max capacity increase through an overnight update
- Other features rolled out in the past year by OTA include energy insights, Auto-Away functionality and twinkle lights for the holiday season
Auto-Away with Occupancy Detection
- Millimeter wave radar technology embedded in indoor units
- Detects human presence even without movement
- Automatically reduces energy consumption in unoccupied rooms
- Privacy-preserving (no visual data, cannot "see" into homes)
- Customizable per-room settings (20-minute default timeout)
Quilt works with Certified Partners
Quilt works with Certified Partners who sell, install, and maintain Quilt systems. The Certified Partner Program helps HVAC service providers stand out with:
- Competitive differentiation: Partners can offer a product line no competitor provides
- Remote diagnostic capabilities and over-the-air updates: Reduces callbacks and service visits
- Comprehensive training and support: Dedicated partner support number with direct access to in-house Quilt expert technicians
- Marketing enablement: 90-day toolkits and seasonal campaigns that outperform traditional HVAC marketing
