EnTouch Controls has raised USD8 million in Series C financing led by Egis Capital Partners. Also participating were new investors Traverse Venture Partners, Aster Capital and Calvert Investments along with existing investors SJF Ventures and Trailblazer Capital.
Richardson, Texas-based EnTouch provides facility asset and energy management intelligence and the financing will allow the firm to expand its sales and marketing team and capitalize on its leadership position in the Commercial Internet of Things (IoT) market.
The financing comes on the heels of a record year for the company as it tripled orders, expanded its footprint of connected facilities to over 4,000 locations, and added enhanced energy and facility management features that support Demand Response (DR), Peak Energy Management (PEM), and Food Safety Reporting and Monitoring. In addition, the company recently signed strategic partnership agreements with EnerNOC and Interface Security Systems.
The US Small Business Administration (SBA) estimates that US businesses spend over USD20 billion annually on energy and that lowering energy costs by 10 percent can increase profit margins by as much as 4 percent. The EnTouch 360° facilities asset and energy intelligence platform assists multi-site companies in achieving those benefits by leveraging cloud-based analytics and energy management software coupled with wireless control systems. EnTouch 360° enables businesses to achieve sustained reductions in energy, maintenance, and capital spending while realising a competitive advantage that directly contributes to their bottom line.
“While 2015 was a fantastic year for EnTouch, we see even stronger growth ahead,” says Greg Fasullo, CEO for EnTouch Controls, “I couldn’t be more excited to add such experienced venture partners to our already strong investment team. Our EnTouch 360° platform has evolved into the premier solution for commercial IoT facilities management and this additional investment will enable the company to rapidly accelerate growth and solidify our industry-leading position.”
