Black Female Founder’s AI Platform Reduces Energy Waste And Is ESG-Focused

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No surprise that a Black female founder faced an uphill battle when it came to fundraising for her company, COI Energy. Despite generating revenue from the start SaLisa Berrien had a harder time than founders that didn't have a track record and weren’t a woman or BIPOC.

Listening to Customers: How COI Prioritizes User Needs and Feedback

Berrien has 25 years of experience in the energy industry, including working for utilities, corporations, and startups. She's an engineer by training, but her career focus was business development. Through the years, time after time, customers told Berrien that they wanted to improve energy efficiency and the bottom line with complete transparency. Instead, they were told gobbledygook about how complicated and costly it was."It's really not that complicated," she declared."We developed a solution that simplifies the whole process, which is as easy to use as turning on a light switch," said Berrien.

When the company started, Berrien thought it could serve all businesses from the very smallest to the very largest. During the beta test of the platform, she discovered COI’s sweet spot was companies with multiple locations, such as healthcare facilities, groceries, commercial office space, and multifamily units.

During the pandemic, COI helped companies understand, for example, why the energy bill of a building with only 10% occupancy had only gone down by 16%."The platform gave them a clear line of sight into correcting the inefficiencies," said Berrien.When Berrien started the company, she bootstrapped it, but to achieve its full potential, she needed to raise venture capital. No surprise that, as a Black female founder, fundraising was her biggest challenge.

 

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