Coral (Startcoral) is a rebate automation and instant-incentives platform purpose-built for HVAC and electrification contractors. Instead of leaving homeowners to navigate confusing utility portals and wait weeks for a check, Coral lets the contractor validate eligibility for federal, state, and utility rebates on a tablet or phone at the kitchen table and apply those rebates as instant, upfront discounts on the invoice. Coral handles all the downstream filing with utilities and government programs, manages follow-up questions, and advances rebate funds to the contractor typically within one business day of installation.
The product is particularly focused on high-incentive electrification work: heat pumps, heat pump water heaters, EV chargers, and related weatherization. Contractors can present rebate-adjusted pricing next to financing offers, which dramatically reduces customer sticker shock on heat pump replacements that would otherwise feel prohibitively expensive compared to gas furnace like-for-like swaps. Coral reports that contractors using the platform see roughly a 20 to 30 percent lift in sales conversion and can lower a homeowner's upfront cost by around 30 percent by combining instant rebates with financing. The company monetizes through a small 1 to 2 percent fee on rebate-inclusive transactions.
Coral was founded in 2023 by Samir Pendse and Nizar Dhamani and is headquartered in New York City. In March 2026 the company raised a $7.5M seed round led by Resilience VC, with participation from Watsco Ventures, Twelve Below, Floating Point, Accion Ventures, Blackhorn Ventures, Remarkable Ventures, and New Climate Ventures, signaling strong HVAC distributor and climate-fintech backing.