Forbes Features BCC and WegoWise in “Utility Data Mining Startup WegoWise to Buy Melon Power.”

Tuesday, December 18, 2012

Boston Community Capital and WegoWise were recently featured in the Forbes article, “Utility Data Mini Startup WegoWise to Buy Melon Power.”  The article, written by reporter Ucilia Wang, discusses WegoWise’s announcement that it will be buying Melon Power, “a startup that took second place in a U.S. Department of Energy contest this year to create apps for helping consumers and businesses use energy more efficiently.”  WegoWise plans to use the acquisition, which is set to complete in early 2013, to bolster its entry into the commercial and industrial building market. 

“The two companies are part of a growing number of software developers who recognize the importance of data mining and analytics in any effort to lower utility bills. Utility expenses make up a big chunk of the cost of maintaining building. In a 50-unit apartment complex in northeastern U.S., where winter heating is an inevitable expense, utilities account for about one-thirds of the complex’s operating budget, said WegoWise CEO and co-founder Andrew Chen.”