A Shelton proptech startup focused on helping commercial real estate properties manage their energy use more efficiently is growing, thanks to a new round of funding led by Balance Point Capital with participation by Connecticut Innovations.

Budderfly uses patented energy measurement and control devices and numerous energy-saving facility components and upgrades to help building owners manage energy use. Butterfly’s business model delivers an energy management solution that provides significant energy savings at no cost to the customer. With nearly 1,000 locations across North America contracted to date, Budderfly serves all types of facilities from office buildings, retail stores and restaurants to schools, recreational buildings and health care facilities.

The company’s new $55 million in growth equity and project debt funding will be used to scale customer project installations, accelerate Budderfly’s go-to-market efforts and expand product growth. The funding round follows $24 million raised over the past 24 months by Edison Partners, Budderfly senior management and the state’s Department of Economic & Community Development.

Budderfly tries to remove the major impediments to reducing the $60 billion it estimates is wasted every year by commercial buildings, including a lack of investment capital and confusion over best practices due to the complexity of the options.

“Successful energy management is a real problem for most organizations due to the complex and fragmented nature of the energy space. It is a daunting challenge for companies to navigate and implement energy efficiency measures with the many and complex energy savings solutions being offered by hundreds of vendors. We make it simple.” Budderfly CEO Al Subbloie said in a statement. “Our service combines accurate point of consumption measurement and controls with our energy efficient infrastructure upgrades, maintenance, expertise and monitoring to provide a one-stop, single vendor, energy management solution that delivers real savings to our customers.”