The company is putting fresh capital behind the launch of its Universal Thermostat, betting that unmatched compatibility, wireless installation and contractor software makes it one of the most flexible HVAC control platforms on the market.
Boldr has raised $5 million in fresh funding to accelerate a new generation of HVAC controls built around the needs of HVAC contractors.
At the center of the company's next phase is the Boldr Universal Thermostat, designed to work across an unusually broad range of North American HVAC equipment — from ductless mini-splits to conventional central systems and much of what sits in between.
But Boldr isn't only competing on compatibility.
Its wireless architecture is designed to solve one of the most frustrating problems technicians encounter on a jobsite: missing thermostat wire. As contractors upgrade homes to newer HVAC systems — including heat pumps, one of the fastest-growing categories — they are increasingly faced with installations that require additional control wiring.
When insufficient wiring exists between the thermostat and equipment, a relatively simple installation can turn into hours of fishing wire, drilling, patching drywall and other work that has little to do with HVAC. Boldr's thermostat communicates wirelessly with an equipment-side subbase, eliminating the need to pull new thermostat wire in applicable installations.
For contractors, Boldr estimates that can eliminate $300 to $500 in labor and material costs per applicable job — while allowing technicians to get to the next call faster.
More Than a Thermostat
The hardware is only one part of Boldr's contractor strategy.
Every installation connects into Boldr's contractor platform, giving HVAC businesses access to data and diagnostics across their installed base.
The platform is designed to help contractors identify problems earlier, reduce nuisance callouts and unnecessary truck rolls, access deeper equipment diagnostics, and build stronger recurring service and maintenance relationships with customers.
That becomes increasingly valuable as HVAC businesses scale. With private equity continuing to consolidate the contractor market, larger operators are looking for technology that can improve technician productivity while simultaneously increasing customer retention and recurring revenue.
Boldr's approach is to combine those two sides of the equation: make the installation easier for the technician and make every installed system more valuable to the contractor over its lifetime.
$5M to Accelerate Adoption
The round was led by Unconventional Ventures, with participation from Ada Ventures, Tetrad Ventures, Davidovs Venture Collective, Roxbury Asset Management, Inclimo Climate Tech Fund, Prosegur, Techstars, S20 Fund, PropelX and strategic investors from the North American HVAC industry.
The new funding will support Boldr's expansion from ductless controls into residential and commercial central HVAC, accelerate development of its contractor platform, and significantly expand contractor adoption and distribution across North America.
For Boldr, the bet isn't simply that contractors want another smart thermostat.
It's that the market will gravitate toward a control that technicians can install across more equipment, with less wiring and less time on the job — while giving the HVAC business behind that technician a software platform to generate value from every installation long after the truck leaves the driveway.
