Sealed is a financial technology company that aims to monetize the $10+ billion per year of wasted energy in US homes. Sealed's customers waste an average of $800 a year on their energy bills and live in drafty, uncomfortable homes with inefficient equipment. Sealed's HomeAdvance financing program gives single family homeowners a better, more comfortable and modern home at no added cost to their energy budget.
Over 50% of single-family homeowners have significant comfort or other problems (health, safety, etc.) that could be solved with energy-saving upgrades (insulation, new boiler, smart thermostat, etc.). Most homeowners would prefer to pay for these upgrades with their energy savings rather than pay cash or take out a loan. But historically, banks have not been willing to lend money based on residential energy savings unless they feel confident in the underlying analytics.
Sealed's HomeAdvance financing program provides capital to cover the upfront costs of energy-saving upgrades. After the upgrades are installed, customers pay Sealed based on the amount of energy they save, guaranteed. Sealed's proprietary data, analytics, and software enable investment-grade energy savings predictions. Sealed's IP has enabled the first debt facility backed by residential energy savings cashflows (New York Green Bank) and the first residential energy savings insurance policy (Munich Re).
Sealed reaches customers via local dealers (contractors), utilities, and digital marketing. Sealed recruits, trains, and manages dealers, helping them sell more projects with the Sealed HomeAdvance program. Sealed also works with utilities (National Grid, Con Edison, etc.) that market Sealed's services in exchange for fixed and lead generation fees.