What Phoenix Energy Technologies does

Phoenix Energy Technologies, now operating as Verantum, is an enterprise software company founded in 2004 and headquartered in Irvine, California. The company provides an operational intelligence platform, EnterpriseDX, that monitors and analyzes energy, HVAC, refrigeration, lighting, and carbon performance across multi-site commercial facilities. Its core technology combines proprietary AI (ClassifyAI), predictive analytics, anomaly detection, and process automation to translate building-system data into actionable insights for facility and operations teams. The platform currently monitors 2.5M+ assets across 42,000+ locations and 535M+ sq ft, serving customers in retail, grocery and convenience, healthcare, entertainment, public sector, and education verticals.

The company operates an enterprise SaaS go-to-market, selling to multi-site operators with named logos including Ulta Beauty, Dollar General, Dollar Tree, a major pet retailer, a national grocery chain, and a national healthcare system. Revenue is generated through platform subscriptions and module-based pricing (HVAC IQ, Refrigeration IQ, Carbon IQ), with additional revenue capture emerging through grid-services partnerships (e.g., Leap). The company has been majority-owned by Duke Energy since October 2015, with additional strategic investment from Energy Innovation Capital and Spring Lake Equity Partners (2019) and Panasonic (2025). The April 2026 rebrand to Verantum reflects a strategic repositioning from energy analytics to broader operational intelligence, accompanied by leadership transition to CEO Ryan Adelman.

Name

Phoenix Energy Technologies

Legal name

Verantum

Website

https://phoenixet.com

Company type

Private

Founded year

2004

Operating status

Operating

Headcount range

101–250 employees

Short description

Verantum (formerly Phoenix Energy Technologies) provides an enterprise SaaS platform, EnterpriseDX, that uses proprietary AI to monitor and optimize energy, HVAC, refrigeration, lighting, and carbon performance across multi-site facilities for retail, grocery, healthcare, and public sector customers.

Ownership category

akta.pro rank

Product category

Building Energy Management Software

NAICS

Computer Systems Design and Related Services (54151), Custom Computer Programming Services (541511)

SIC

Services-Computer Integrated Systems Design (7373), Industrial Instruments For Measurement, Display, And Control (3823)

akta.pro primary industry

Smart Building Software Platforms (IWMS/CAFM Integration, Digital Twin, Command Center) (BPABAGAG)

akta.pro secondary industries

Building Automation & Controls (BAS/BMS) (HSAPAPAA), Customer Grid-Edge Enablement Services (HEMS/DR Device Integration, VPP Enablement) (EUAEANAL)

Keywords

• Building energy management
• Facility asset performance
• HVAC analytics software
• Refrigeration leak detection
• Multi-site IoT monitoring

Headquarters

HQ city

Irvine

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. SaaS Platform Subscription: EnterpriseDX platform subscription providing software access, monitoring, analytics and workflow automation across portfolio. Typically sold as multi-year enterprise agreements.
2. Premium Services: Engineering, procurement, and commissioning services for BAS/EMS, sensors and meters. Vendor management services for HVAC and refrigeration trades. Mobile technician support services.
3. Hardware Sales: Sale of IoT sensors, meters, and connectivity hardware. Hardware can be purchased directly from Verantum or through certified partners.
4. Grid Services Revenue Share: Demand response and virtual power plant participation generating revenue for customers through partnership with Leap platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels8 records

Core offering

Phoenix Energy Technologies (now Verantum) sells EnterpriseDX, a hardware-agnostic, cloud-based building analytics platform that ingests data from sensors, meters, building automation systems, and third-party systems to provide a unified view of HVAC, refrigeration, and lighting performance across multi-site commercial portfolios. The platform is sold alongside specialized add-on modules (HVAC IQ, Refrigeration IQ, Carbon IQ, Building View, Technician View, Alarm Manager, Command Manager, Demand Manager) and is delivered with supporting services such as 24/7 monitoring, BAS/EMS support, demand response participation, and certified hardware sales.

Product overview

Verantum (formerly Phoenix Energy Technologies) offers a unified platform-plus-modules architecture. The core platform is EnterpriseDX, a hardware-agnostic cloud-based system that connects HVAC, refrigeration, lighting, sensors, meters, and third-party data into a single operational view. Built on a 'Collect. Analyze. Act.' closed-loop framework, the platform integrates specialized modules including HVAC IQ (equipment health and diagnostics), Refrigeration IQ (AI-driven leak detection, powered by Hussmann StoreConnect), Carbon IQ (emissions tracking), Building View (portfolio visibility), Technician View (mobile field tools), Alarm Manager (smart alarming), Command Manager (control coordination), and Demand Manager (demand charge management). The company expanded from energy and comfort management into comprehensive asset lifecycle management, enabling predictive maintenance and capital planning across multi-site commercial portfolios.

Differentiator

Problem solved

Functional benefit

Brands

• EnterpriseDX: Hardware-agnostic platform that connects building systems, sensors, meters and third-party data into a unified cloud-based view across portfolios.
• HVAC IQ
• Refrigeration IQ
• Carbon IQ
• Building View
• Technician View
• Alarm Manager
• Command Manager
• Demand Manager
• ClassifyAI

Products and services

• EnterpriseDX Hardware-agnostic, cloud-based building analytics platform that ingests data from sensors, meters, building automation systems, and third-party sources to provide a unified view of HVAC, refrigeration, and lighting performance across multi-site commercial portfolios. Designed for enterprise multi-site operators in retail, grocery, healthcare, education, public sector, and entertainment.
• EDX Demand Manager Demand charge management and automated demand response solution that helps multi-site operators reduce electricity costs and participate in utility grid services programs.
• EDX Building View Enterprise-wide visibility dashboard that provides a single-pane-of-glass view into HVAC, refrigeration, and lighting performance across a multi-site portfolio.
• ClassifyAI AI-driven data integration and source classification product that automatically identifies and structures incoming data from disparate building systems, sensors, and meters to accelerate onboarding into EnterpriseDX.
• HVAC IQ HVAC analytics module providing real-time HVAC health scoring, fault detection and diagnostics, and predictive maintenance insights across multi-site portfolios for enterprise facility teams.
• Refrigeration IQ AI-driven refrigeration monitoring and leak detection solution that identifies anomalies, food-safety risks, and refrigerant leaks across multi-site grocery and food retail operations. Powered by Hussmann StoreConnect integration.
• Carbon IQ

Quantifiable outcome

• Up to 15% combined energy and maintenance savings
• +5 more outcomes

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability7 records

Feature11 records

Partnerships

Ten partnerships are on record, tiered core and supporting.

• LeapcoreStrategic or Co-development Partner · 2 June 2026Strategic partnership to transform commercial buildings into grid flexibility resources through virtual power plant capabilities. Enables portfolios of connected buildings to generate new revenue in automated demand response and grid services programs. Initially supporting retail chains including Dollar Tree at sites across California, New York, Texas, and utility territories of Puget Sound Energy, Salt River Project, and TVA. Leap's software platform automates VPP operations through APIs.
• Disruptive TechnologiescoreStrategic or Co-development Partner · 22 January 2026Strategic partnership to accelerate building automation combining DT's ultra-reliable wireless sensors with Phoenix's EnterpriseDX platform. Joint solution delivers deeper analytics, automated workflows, and portfolio benchmarking for multi-site operators in retail and healthcare sectors. Already deployed with Dollar Tree for proactive monitoring of refrigeration, comfort, and energy systems.
• XOi TechnologiessupportingTechnology or Integration · 21 January 2026Press release announcing partnership to combine real-time building intelligence with jobsite asset data to help operators detect issues earlier and reduce downtime.
• Hussmann CorporationcoreStrategic or Co-development Partner · 5 March 2025Strategic partnership to launch Refrigeration IQ Powered by Hussmann StoreConnect for AI-driven refrigerant leak detection for grocery stores. Combines Phoenix's data integration and analytics with Hussmann's automated leak detection technology reducing leak rates by over 30%. Partnership includes equity investment from Hussmann. Opens access to Phoenix's IoT devices, EnterpriseDX platform, and HVAC analytics for Hussmann service customers.
• Digital Transformation PartnerssupportingStrategic or Co-development PartnerPartners in cloud and digital transformation, agentic AI to modernize building portfolio management from fragmented systems to connected, data-led operations.
• Facilities Management / IWMS PartnerssupportingTechnology or IntegrationIntegration with facilities management and workplace systems (CMMS/FSM platforms like Corrigo, ServiceChannel, Brightly) to connect operational data with day-to-day workflows.
• Controls and IoT Device ProviderssupportingChannel Partner/ Reseller/ DistributorLeading controls and IoT device providers enabling reliable data capture and performance monitoring without replacing existing infrastructure.
• Demand Response ProviderssupportingStrategic or Co-development PartnerDemand response partners to help organizations manage energy consumption and participate in grid services programs for cost reduction while maintaining operational stability.
• Data Enrichment PartnerssupportingTechnology or IntegrationExternal data sources including weather, utility billing, and carbon intensity data that enriches EnterpriseDX for more accurate insights and better-informed decisions.
• Refrigeration SpecialistssupportingImplementation/ SI/ Consulting PartnerRefrigeration specialists supporting performance and reliability of critical cooling systems, protecting temperature-sensitive assets and ensuring consistent operation.

Scale indicators9 records

Recent moves9 records

Expansion highlights12 records

Direct peers

• 75F: 75F provides IoT-enabled, cloud-based building automation and energy management for multi-site commercial operators. Direct comparable to Verantum's EnterpriseDX in HVAC analytics, smart controls, and portfolio-level visibility.
• GridPoint: GridPoint offers an energy management and analytics platform for multi-site retail, grocery, and commercial customers with sub-metering and IoT hardware. Overlaps directly with Verantum on demand management, refrigeration/HVAC monitoring, and portfolio benchmarking.
• EnTouch Controls: EnTouch delivers cloud-based building automation and energy management primarily to multi-site retail and restaurant operators. Closely aligned with Verantum's hardware-agnostic SaaS model and target verticals.

Emerging players

• Aquicore (now Thing Technologies): Aquicore provides a smart-building analytics platform focused on commercial real estate portfolios, with metering, benchmarking, and operational insights. Comparable as a software-first energy/asset analytics player.
• Carbon Lighthouse: Carbon Lighthouse uses data analytics and engineering services to identify and implement energy and carbon reductions across commercial building portfolios. Overlaps with Verantum's Carbon IQ and energy optimization modules.
• Uptake Technologies: Uptake provides industrial AI and asset performance management for fleets and connected equipment. Comparable as an AI-driven predictive maintenance and asset analytics platform, though with a different primary vertical mix.

Broad incumbents

• Honeywell Building Technologies: Honeywell's building technologies division offers BMS, HVAC controls, energy analytics, and sustainability software at global scale. Broad incumbent competing across the full stack Verantum addresses via its hardware-agnostic layer.
• Johnson Controls: Johnson Controls provides OpenBlue digital platform, building automation, HVAC equipment, and energy services. Incumbent competing with Verantum in multi-site commercial energy and asset management.
• Siemens Building Technologies: Siemens offers Desigo CC/Navigator BMS, energy management, and digital building services globally. Comparable as a broad incumbent with overlapping analytics, demand management, and portfolio capabilities.
• Schneider Electric EcoStruxure: Schneider Electric's EcoStruxure platform integrates building management, energy analytics, and power management. Incumbent peer in smart-building software and multi-site energy optimization.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/verantumhq
• Xx.com/PhoenixET
• Facebookfacebook.com/phoenixetusa

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds4 records

Investors4 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 Phoenix Energy Technologies