Set to become the first viable e-commerce solution in HVAC-R
Marathon Capital, LLC (“Marathon Capital”) is pleased to announce the closing of a $27.6 million equity financing Series B round for Bluon, Inc. (“Bluon”), a rapidly growing company in the HVAC-R space. The equity financing is in addition to Bluon’s recently completed $9.0M in venture debt. The new capital will primarily finance the launch of its e-commerce platform (BluonLive), as well as software development and future growth in its sales and technician support teams.
The round was led by Bluon’s existing primary capital partner, Ecosystem Integrity Fund (EIF), and included considerable contributions from MKB, a Canadian growth equity fund focused on innovative companies that can drive environmental and social change, as well as two HVAC industry titans – Ferguson and Reece through their venture arms – Ferguson Ventures and SuperSeed Ventures respectively. This level of support validates the significance of Bluon’s introduction of the first brand agnostic, demand focused e-commerce platform serving the HVAC-R industry.
The Bluon app and support platform is the first mobile app to become self-adopted at scale by HVAC-R technicians – with nearly 30% of the US market registered as members and 2% of the market joining each month.
The Company is now broadening its industry support into purchasing. Bluon’s e-commerce strategy is committed to enhancing and expanding local relationships between technicians and their local distributors. With this expansion, Bluon has rapidly emerged as the clear leader in the race to become the dominant e-commerce platform for the $70B HVAC-R Industry.
“Marathon Capital was a key advisor during our Series B process and was able to secure top-tier investors for Bluon. With this new investment and the type of investors participating, Bluon’s demand-based support platform and its imminent evolution into the first true brand agnostic, e-commerce platform for HVAC-R becomes clear to the key stakeholders in the industry.” -Peter Capuciati, chairman and CEO at Bluon.
“Bluon is leading one of the most dynamic expansions in the modern HVAC-R industry. We are excited to help Bluon finance the introduction of BluonLive, which is fast and easy-to-use. Building on strong technician traction, BluonLive’s launch will drive efficiency and increase revenue across the industry.” – Sarah Nash, Director at Marathon Capital
Bluon recognizes that HVAC-R techs are the heart and soul of the industry and the ultimate drivers of its efficiency and innovation. Bluon’s support platform is a revolutionary mobile app that offers tools, training and 24/7 tech support to HVAC-R technicians in the field. Bluon is the first mobile app platform to aggregate detailed technical information on more than 45,000 unique HVAC models, further providing technicians with the information they need to be effective and proficient on the job. With more than 175,000 downloads, 85,000 onboarded member technicians (growing by 6,500 each month) and hundreds of distributors already in the Bluon network, it has become the largest and fastest-growing support platform and community in HVAC-R. Fueled by the feedback from its members, Bluon is set to revolutionize the way in which technicians and their local distributors interact, enabling both parties to do more with less. For more information about Bluon, visit www.bluon.com.