Parity

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.

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

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

• HVAC optimization software
• Building energy management
• Demand response automation
• Utility cost reduction
• Building performance compliance

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Supply Chain

Revenue model

1. 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.
2. 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

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core 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

Named customers10 records

Segments2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature4 records

Partnerships

One partnership is on record.

• AvalonBay CommunitiescoreStrategic or Co-development Partner · 1 January 2022Strategic 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

Direct 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

• LinkedInlinkedin.com/company/parityinc
• Xx.com/paritygo
• Facebookfacebook.com/paritygo

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds4 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Parity