Faraday Raises $880K Series A to Reinvent Customer Acquisition

3Degrees In The News | March 20, 2014

MIDDLEBURY, Vt., March 20, 2014 /PRNewswire/ -- Faraday, a cloud software provider delivering better customer acquisition to the home improvement industry, announced today the close of a $880,000 Series A round of financing. The oversubscribed financing was led by FreshTracks Capital, with renewable energy services provider 3Degrees, seed-stage venture investor LaunchCapital, environmental opportunities focused investor ARB, and a number of individual investors including several cleantech executives also participating. Cairn Cross, Managing Director of FreshTracks Capital, and Richard Graves, Co-Founder and VP of Corporate & Business Development at Ethical Electric, joined the company's board of directors.

Faraday's software-as-a-service (SaaS) application improves its users' customer acquisition metrics by revealing the best strategies for winning new business. The application helps users generate targeting hypotheses, facilitates multi-channel outreach through a network of vendors, and tracks results to highlight the best-performing approaches. Also included is a predictive analytics engine that identifies customers most likely to convert.

In 2013 Faraday worked with seven clients in five states, analyzing over 800,000 households for their propensity to invest in home upgrades.

"One thing we've learned in the Big Data era is that there are no more rules of thumb, and that holds true with customer acquisition," said Andy Rossmeissl, Faraday...

Power Plant Carbon Pollution Drops 10% in Two Years

3Degrees In The News | October 24, 2013

Carbon pollution from power plants has decreased 10 percent from 2010, according to EPA data.

The agency yesterday released its third year of greenhouse gas data detailing carbon pollution emissions and trends broken down by industrial sector, greenhouse gas, geographic region and individual facility. The data, required to be collected annually by Congress, highlight a decrease in greenhouse gas emissions as more utilities switch from coal to cleaner burning natural gas for electricity generation. They also shows a slight decrease in electricity production, according to the EPA.

For reporting year 2012, more than 8,000 facilities and suppliers reported to the EPA’s greenhouse gas reporting program. Among these reporters, 7,809 facilities in nine industry sectors reported direct emissions to the atmosphere, with emissions totaling 3.13 billion metric tons carbon dioxide equivalent (CO2e), or about half of total US greenhouse gas emissions.

Fossil-fuel fired power plants remain the largest source of US greenhouse gas emissions. With just under 1,600 facilities emitting more than 2 billion metric tons of carbon dioxide in 2012, these plants account for about 40 percent of total US carbon pollution.

Greenhouse gases emitted through human activities such as transportation and power generation are the primary driver of recent climate change, the agency says.

The EPA’s reporting program collects annual greenhouse gas information from facilities in...

3Degrees Recognized for its Commitment to Employee Engagement and Satisfaction

Press Release | October 9, 2013

SAN FRANCISCO, October 9, 2013 — 3Degrees, one of the nation's leading providers of utility green pricing programs and renewable energy and carbon offset products and servicestoday announced that the company is being recognized by B Lab as one of The Best for the World for Worker Impact.

3Degrees shares the Best for the World honor with other market leaders around the globe that have earned in the top 10 percent among all Certified B Corporations™—a designation conferred by B Lab for companies that take into consideration the social and environmental impacts of their business operations on all stakeholders, not just shareholders.

“At 3Degrees, we’re committed to creating a work environment that attracts and retains employees who are dedicated to our mission—to connect people with renewable energy on a massive scale—and inspired by the values we demonstrate by being a B Corp,” said Steve McDougal, President of 3Degrees. “This recognition is wonderful validation that we’re on the right track.”

To be awarded the B Corporation designation, companies complete a lengthy assessment that measures its impact on its employees, suppliers, community, and the environment. A company’s positive impact on workers is measured by the extent to which it maintains a compensation and benefit structure beneficial to its employees, allows employees to have a meaningful ownership stake in the company, and fosters a positive work environment, among other indicators.

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