Parity
Parity sells an AI-driven, subscription-based HVAC optimization service called Optimizer to owners and operators of mid- to large-format multifamily buildings and hotels, guaranteeing 20–30% utility cost reductions via real-time remote control of existing equipment.
- Company typePrivate
- Founded2016
- HeadquartersToronto, Canada
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Parity does
Parity is a Toronto-based software and services company founded in 2016 by Brad Pilgrim and Brian MacLeod that sells an AI-driven remote HVAC optimization service, branded Optimizer, to owners and operators of mid- to large-format multifamily buildings and hotels across North America. The Optimizer service ingests operational and equipment data from a building's HVAC and BMS systems, applies machine learning algorithms to redesign control operations, and streams real-time setpoint and equipment adjustments back to the building via installed third-party, non-proprietary hardware (control panels, variable frequency drives, and communication devices). Adjacent capabilities include the Pi (Parity Insights) monitoring and alerts dashboard, automated demand response curtailment, and IPMVP measurement and verification.
The company monetizes primarily through a subscription arrangement priced as a share of customer utility savings, underwritten by a contractual guarantee of 20–30% reduction in building utility costs (Parity issues a check for the shortfall) and supported by a zero-upfront-investment option. Revenue is augmented by installation and ongoing service fees tied to the hardware deployment. Customers are segmented vertically into multifamily buildings (condos, co-ops, rentals) and hotels, with the sales motion led by a dedicated field sales team and supported by content marketing, case studies, and earned media.
Parity reported approximately 100 million square feet of real estate under management across the Greater Toronto, New York City Metro, Washington D.C./Maryland/Northern Virginia, Greater Boston, and California markets, with an average guaranteed savings of $81,940 per building per year and more than 18,500 tons of CO2 emissions prevented to date. The company has raised a CA$8M round in 2022 and a $19M Series B in 2024, employs between 11 and 50 people, and is anchored by a strategic partnership with AvalonBay Communities that began in 2022 and now spans the majority of AvalonBay's NYC portfolio and select East Coast properties.
Parity firmographics
Firmographics- Name
- Parity
- Legal name
- Parity Inc.
- Website
- https://paritygo.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Parity sells an AI-driven, subscription-based HVAC optimization service called Optimizer to owners and operators of mid- to large-format multifamily buildings and hotels, guaranteeing 20–30% utility cost reductions via real-time remote control of existing equipment.
- Ownership category
- akta.pro rank
Parity industry classification
Industry- Product category
- Building Energy Management Software
- NAICS
- Computer Systems Design and Related Services (5415), Custom Computer Programming Services (541511)
- SIC
- Auto Controls For Regulating Residential & Comml Environments (3822), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Customer Grid-Edge Enablement Services (HEMS/DR Device Integration, VPP Enablement) (EUAEANAL)
- akta.pro secondary industry
- DER Management Systems (DERMS) & Virtual Power Plants (VPP) (EUADAPAD)
Keywords
Where Parity is headquartered
LocationHeadquarters
- HQ city
- Toronto
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Parity business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Supply Chain
Revenue model
- HVAC Optimization Service (Optimizer): Recurring service revenue from HVAC optimization and control adjustments. Customers receive deployment of control optimization software, access to Pi monitoring dashboard, automated demand response, regular savings reports, and remote/onsite technical support. Pricing appears based on building size and complexity with guaranteed savings model where Parity pays the difference if savings targets are not met. Zero upfront investment option available.
- Installation and Service Fees: Revenue generated from installation of hardware (control panels, VFDs, BMS when needed) and ongoing service support. Hardware is third-party non-proprietary, typically consisting of control panels, VFDs, and communication devices.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Optimizer Service - HVAC Optimization with Guaranteed Savings |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels6 records
Parity product offering
Product offeringCore offering
Parity provides a remote HVAC optimization service (Optimizer) that uses machine learning algorithms to analyze operational and equipment data from building HVAC systems and automatically stream real-time control adjustments to maximize energy efficiency. The service integrates with existing building management systems, deploys third-party non-proprietary hardware (control panels, VFDs, communication devices), and includes a monitoring dashboard (Pi), automated demand response curtailment, IPMVP measurement & verification, and HVAC expert support. Pricing is delivered under a guaranteed savings model where Parity pays the difference if utility cost reduction targets (20-30%) are not achieved.
Product overview
Parity offers a single unified HVAC optimization service called Optimizer, which combines control optimization software, a monitoring/alerts dashboard (Pi), automated demand response curtailment, measurement and verification (IPMVP), and HVAC expert support into one integrated offering. The service is designed for multifamily buildings and hotels, with a guaranteed savings model (20-30% utility cost reduction or Parity cuts a check). No upfront investment option is available. Buildings receive hardware installation (third-party non-proprietary control panels, VFDs, communication devices) that enables the software to communicate with existing HVAC equipment.
Differentiator
Problem solved
Functional benefit
Products and services
- Optimizer Parity's flagship HVAC optimization service that automatically controls and optimizes HVAC systems in real-time through remote control adjustments to maximize energy efficiency and reduce utility costs, guaranteed. Combines control optimization software, Pi monitoring dashboard, automated demand response, IPMVP measurement & verification, and HVAC expert support for multifamily buildings and hotels.
Quantifiable outcome
- Average yearly guaranteed savings of $81,940 per building
- +5 more outcomes
Companies that use Parity
Customer profileNamed customers10 records
Segments2 records
Ideal customer profiles3 records
Parity technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature4 records
Parity partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- AvalonBay CommunitiescoreStrategic partnership began in 2022 with HVAC optimization pilot across three Midtown Manhattan buildings. Investment of approximately $280,000 with savings exceeding $540,000. Expanded to majority of AvalonBay's NYC portfolio and East Coast properties (4.5M sq ft planned). Partnership has achieved 1,000+ tons CO2 reduction and $290,000 in LL97 fine mitigation. Companies received 2026 Better Buildings Award together.
Scale indicators7 records
Recent moves6 records
Expansion highlights6 records
Parity competitors and assessment
Company assessmentDirect peers
- BuildingIQ: BuildingIQ provides AI-driven HVAC optimization and energy management for mid-market and enterprise commercial buildings. Direct comparable to Parity's Optimizer service: both deliver ML-based HVAC control optimization targeting utility cost reduction in large multi-tenant properties.
- BrainBox AI: BrainBox AI offers AI-powered HVAC optimization for commercial real estate, using deep learning to autonomously control building systems. Same target customers (CRE owners/operators) and same core value proposition (autonomous HVAC optimization for energy savings) as Parity.
- 75F: 75F provides IoT and cloud-based HVAC optimization with predictive control for commercial buildings. Targets similar building owner/operator pain points (energy waste, comfort, demand response) with hardware-plus-software solution; comparable in deployment model to Parity's Optimizer service.
- GridPoint: GridPoint delivers energy management and building optimization software with demand response automation for multi-site commercial portfolios. Overlaps with Parity in automated DR participation and HVAC/equipment optimization, with a stronger multi-site focus on retail and restaurant chains.
- Switch Automation: Switch Automation provides a building analytics and optimization platform for commercial real estate, integrating HVAC, lighting, and energy data. Comparable to Parity's Pi dashboard and Optimizer combination, though with broader building system scope beyond HVAC.
- Aquicore: Aquicore offers a building operations platform with real-time HVAC and energy monitoring for CRE owners. Adjacent to Parity in monitoring and analytics but lighter on autonomous control; serves overlapping customer base of property managers and asset operators.
Emerging players
- Carbon Lighthouse: Carbon Lighthouse delivers building decarbonization services combining HVAC and operational efficiency improvements for commercial real estate. Comparable sustainability and emissions reduction positioning to Parity, with a services-led rather than pure-software delivery model.
- Enverid: Enverid provides HVAC air purification and energy recovery solutions for commercial buildings. Less direct overlap with Parity's optimization software, but addresses adjacent HVAC-related energy efficiency and indoor environmental quality concerns for similar building owner customers.
Broad incumbents
- Honeywell Building Technologies: Honeywell's building technologies division offers comprehensive BMS, HVAC controls, and energy management for commercial real estate at global scale. Represents the incumbent competitive threat to Parity, with broader portfolio but typically heavier-touch hardware-centric deployments.
- Johnson Controls: Johnson Controls provides building automation systems, HVAC equipment, and energy optimization services globally through its OpenBlue platform. Competes with Parity in building performance optimization but as part of a much broader hardware-and-services portfolio serving enterprise CRE.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Parity social profiles
Digital presenceParity financial estimates
Financial estimateRevenue estimate
Valuation estimate
Parity leadership team
Management profileNumber of profiles
Profiles8 records
Parity funding detail
Funding detailFunding overview
Funding rounds4 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Parity M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Parity
What does Parity do?
Parity provides a remote HVAC optimization service (Optimizer) that uses machine learning algorithms to analyze operational and equipment data from building HVAC systems and automatically stream real-time control adjustments to maximize energy efficiency. The service integrates with existing building management systems, deploys third-party non-proprietary hardware (control panels, VFDs, communication devices), and includes a monitoring dashboard (Pi), automated demand response curtailment, IPMVP measurement & verification, and HVAC expert support. Pricing is delivered under a guaranteed savings model where Parity pays the difference if utility cost reduction targets (20-30%) are not achieved.
Is Parity a public or private company?
Parity is a private company. It is classified as venture growth investor backed and is currently operating.
When was Parity founded?
Parity was founded in 2016. It employs 11 to 50 people.
Where is Parity based?
Parity is headquartered in Toronto, Canada, in the North America region.
How does Parity make money?
Two revenue lines are on record. HVAC Optimization Service (Optimizer) is the primary driver. The others are installation and Service Fees.
Who are Parity's main competitors?
Direct peers on record are BuildingIQ, BrainBox AI, 75F, GridPoint, Switch Automation and Aquicore. Emerging players are Carbon Lighthouse and Enverid. Broad incumbents are Honeywell Building Technologies and Johnson Controls.
Does Parity have an API?
No public API is recorded for Parity.
What industry is Parity in?
Parity's product category is Building Energy Management Software. Its primary akta.pro industry code is EUAEANAL, Customer Grid-Edge Enablement Services (HEMS/DR Device Integration, VPP Enablement), with a secondary code of EUADAPAD, DER Management Systems (DERMS) & Virtual Power Plants (VPP). Its NAICS code is 5415 and its SIC code is 3822.