A Look Inside the Retroficiency Acquisition, Ten Months In

Bennett Fisher

A lot has happened to Retroficiency since being acquired by Ecova last October. The acquisition news made a big splash across the industry, signaling a leading energy efficiency player’s commitment to data analytics. Large strides have been made to integrate our two companies and deliver rapid results for our clients. In April, we decided to formally rebrand as Ecova, preserving the Retroficiency brand name at the platform/product level. At the same time, we launched a new Digital Engagement solution for utilities and energy providers.

Like Retroficiency, Ecova has a strong vision for harnessing analytics software to effectively engage utility customers and drive energy savings. As we continue to innovate, we’ve placed an equally important focus on seamlessly integrating that software with service solutions for energy efficiency, demand-side management and new types of emerging programs. We have successfully brought our combined capabilities to utilities that share this vision and are hard at work on releasing more new capabilities in this area.

We believe these changes will best position Ecova to offer a unified set of solutions to the market. Ecova is owned by ENGIE, one of the world’s largest energy companies, and Retroficiency is thrilled to be part of a multinational company that sees our technology as a key source of innovation. Our analytics platform recently won the Big Data Award in ENGIE’s 2016 Innovation Trophies competition, which received over 500 applications from employees in every office (ENGIE has a total of nearly 155,000 employees). We’re excited to showcase our work throughout the organization as well as explore opportunities for collaboration with ENGIE’s global footprint and resources.

Ecova and ENGIE have been deeply supportive of Retroficiency’s roadmap and plans for growth since day one. Our Boston-based team has nearly doubled in size over the past year as we are investing in talent and added expertise to support the company’s growth. We’ve also been encouraged to maintain our agile culture and start-up roots. In fact, we just held another “Retrovation,” a fun annual event in which employees spend 24 hours working on any idea or project they want that can improve the company in some way. This year’s winning project, developed by members of our software and R&D team, was a web portal to streamline food orders for our Friday ”all-hands” lunches that we host each week.

Retrovation Winning Project - Funch

A screencap of the winning project from our 2016 Retrovation.

The past year has been a whirlwind of excitement and activity. Our teams have come together, collectively sharing our knowledge and drawing on each other’s unique perspectives and expertise to grow as one Ecova. We look back fondly on the milestones marked in our company history and can’t wait to continue the journey now as part of both Ecova and ENGIE.

 

Co-authored by Bennett Fisher and Jenny Zhao

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