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Boston Business Journal Features BCC in “VC firm aims for Zipcar repeat with energy data startup WegoWise.”

Wednesday, July 25, 2012

Boston Community Capital and WegoWise were featured in the Boston Business Journal article, “VC firm aims for Zipcar repeat with energy data startup WegoWise.”  The article, written by VC Editor Kyle Alspach, discusses BCC’s current investment in WegoWise.  Alspach writes:

“When Boston Community Capital provided seed funding to Zipcar (Nasdaq: ZIP) in 2000, the firm saw a chance to use new computing power to revolutionize the old idea of car sharing — and transform the world a little bit in the process. The firm sees a similar opportunity, this time for energy efficiency in buildings, in one of its current investments: Cambridge startup WegoWise.”

“Zipcar ‘leveraged technological developments to make car sharing a scalable business,’ said Andrew Chen, a managing director at Boston Community Capital's venture fund and CEO of WegoWise.”

“‘WegoWise is very much the same. The way people think about building efficiency is that, traditionally, it's not scalable,’ Chen said. ‘But now we're able to use very inexpensive cloud computing infrastructure as our backbone, and we're able to use all the Internet technology to download information from the utilities' websites.’”

Read the article here.