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Coil has raised $4.0M across 1 funding round.
Key people at Coil.
Coil has raised $4.0M in total across 1 funding round.
Based in San Francisco, California, Coil develops artificial intelligence solutions focused on facilitating seamless bank payments to eliminate the structural need for traditional credit cards. The company provides a specialized software platform that integrates banking directly into corporate payment systems, allowing commercial businesses to significantly reduce transaction fees and minimize customer churn. These financial technology tools are primarily designed for growing fintech and SaaS enterprises seeking highly efficient, card-free payment processing alternatives for their daily operations. Operating with a current organizational scale of just one employee, the startup successfully participated in the highly competitive Winter 2023 batch of the Y Combinator accelerator program. During this initial accelerator period, the payment processing platform received direct mentorship and strategic guidance from prominent Y Combinator partner Gustaf Alstromer. Coil was officially founded in 2022 by sole entrepreneur Eleazar.
Key people at Coil.
Coil Company is a leading U.S.-based manufacturer specializing in HVAC and industrial coils, offering replacement coils for major OEMs like Carrier, Trane, McQuay, York, and Heatcraft, as well as custom designs for new systems.[1][2][3][6] It serves HVAC technicians, industrial clients, and OEMs by solving coil replacement and heat exchange needs with water, steam, refrigerant, or other media, using intuitive sizing software, quick turnaround production, and robust features like 100% factory leak testing, E-coating for corrosion protection, and thicker tube walls for durability.[1][4][6] The company emphasizes USA-made quality, flexibility in commercial (copper tube/aluminum fin) and heavy-duty industrial coils (e.g., stainless steel, cupro-nickel), and air handling equipment like coil sections with drain pans, positioning it as America's first coil replacement specialist with over 30 years of expertise.[2][3][6]
Coil Company has operated for more than five decades, establishing itself as a pioneer in the HVAC industry through ingeniously engineered coils that address a wide range of applications.[3] While specific founding details and key partners are not detailed in available sources, the company evolved from a focus on water coils—leading designs for over 40 years—to a full-spectrum provider of HVAC and industrial systems, including replacements and custom builds.[1][4] Pivotal moments include developing industry-leading microchannel coils as a primary supplier to major OEMs and creating user-friendly tools like field drawings and coil sizing software to streamline replacements, reflecting its shift toward service-oriented efficiency.[1][6]
Coil Company rides the trend of HVAC system modernization and sustainability, where efficient replacements extend equipment life amid rising energy costs and supply chain disruptions for OEM parts.[1][6] Its timing aligns with industrial demands for durable, corrosion-resistant coils in process applications, supporting sectors like manufacturing and refrigeration that require quick, reliable heat exchange solutions.[2][4] Market forces favoring it include the push for USA-made manufacturing, reduced downtime in critical systems, and tools that democratize coil selection, influencing the ecosystem by enabling faster repairs and custom adaptations for aging infrastructure.[3][6]
Coil Company is poised to expand in industrial IoT-integrated HVAC and advanced materials for net-zero buildings, leveraging its software and replacement expertise amid electrification trends.[1][4] Trends like AI-driven predictive maintenance and refrigerant regulations will shape its growth, potentially amplifying influence through partnerships with OEMs and exports.[2][3] As the go-to for coil reliability, it will continue transforming downtime headaches into seamless upgrades, solidifying its half-century legacy in a resilient HVAC market.[6]
Coil has raised $4.0M in total across 1 funding round.
Coil's investors include Ethan Beard.
Coil has raised $4.0M across 1 funding round. Most recently, it raised $4.0M Seed in August 2019.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 15, 2019 | $4M Seed | Ethan Beard | — | Announced |
