Next Step Living raises $25 million, crosses 500 Mass. employees


Boston-based Next Step Living, an energy services firm focused on efficiency upgrades, has raised $25 million in Series D funding.

The company also disclosed it has grown its full-time Massachusetts staff to 543 employees, up from 460 in September. Next Step Living has 132 part-time employees in Massachusetts, as well.

Founded in 2008, the company has done work in more than 75,000 homes to date, including 3,500 in Connecticut, which the firm expanded to from Massachusetts last year. Services include analyzing homes for energy inefficiencies, adding insulation, re-sealing windows, and installing solar panels.

Next Step Living saw $58 million in revenue last year, and is on track to double that this year, COO Brian Greenfield said recently.

The Series D funding will go toward supporting its expansion. Leading the round is new investor Braemar Energy Ventures. Also taking part are returning investors including VantagePoint Capital Partners and Black Coral Capital. Next Step Living has now raised $60 million in equity funding to date, a spokesperson said.

Read more: Next Step Living launches solar power for the masses

Image of a green home via Shutterstock.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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