Covetool

Covetool

Cloud-based software for energy-efficient building design

About

Cove.tool provides a cloud-based software platform that helps professionals in the architecture, engineering, and construction (AEC) industry design buildings with a focus on energy efficiency and sustainability. The platform uses advanced algorithms and data analytics to analyze various design elements, such as energy use intensity, lighting, HVAC systems, and shading effects. Users can input different design variables to see how changes impact energy performance and carbon emissions, enabling them to make informed decisions that lead to cost savings and environmental benefits. Unlike many competitors, Cove.tool offers a user-friendly interface and a subscription-based model that allows clients to access the software and receive specialized consulting services for complex projects. The goal of Cove.tool is to support the creation of energy-efficient buildings and contribute to global sustainability efforts.

Company Stage

Series B

Employees

51-200

Industries

Data & Analytics, Industrial & Manufacturing, Energy

Total Funding

$35.7M

Headquarters

Atlanta, Georgia

Founded

2017


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Simplify's Take

What believers are saying

  • Recognition by TIME as a top GreenTech company boosts cove.tool's industry credibility.
  • Partnerships with companies like SolaBlock enhance product offerings and market reach.
  • Growing demand for AI-powered sustainability solutions supports cove.tool's business model.

What critics are saying

  • Increased competition from new startups may challenge cove.tool's market position.
  • Economic downturns could affect subscription renewals and revenue stability.
  • Dependence on third-party technologies like SolaBlock may pose operational risks.

What makes Covetool unique

  • Cove.tool integrates AI to optimize building design for energy efficiency and sustainability.
  • The platform offers real-time data analytics for informed decision-making in building projects.
  • Cove.tool's subscription model provides scalable access to advanced sustainability consulting services.

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Growth & Insights
Headcount

6 month growth

-15%

1 year growth

-21%

2 year growth

-23%

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