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JouleX secures USD17m in expansion capital

JouleX has received USD17 million in investment capital from new investors Sigma Partners, Flybridge Capital Partners and Intel Capital, in addition to existing investors Target Partners and TechOperators. JouleX plans to use the capital to expand its development and sales footprint into growth markets around the world.

"The widespread need for enterprises around the world to better measure and manage energy usage presents an incredible opportunity for JouleX," says Tom Noonan, president and CEO at JouleX. "We are leading the way to provide companies with an innovative energy management system for the entire enterprise that will help them achieve real cost savings and meet sustainability goals. This investment will allow us to accelerate the introduction of our JouleX Energy Manager family of products into regions around the world where optimizing energy usage and driving energy efficiency are mission-critical for conducting business."

The company’s technology platform, JouleX Energy Manager (JEM), is the first network-based, "agentless" energy management system that measures the energy consumption and utilisation of all network-connected devices and systems to provide visibility into power usage across the enterprise. Deployed in distributed offices, data centres and facilities, the JEM technology reduces energy costs by monitoring, analysing and controlling energy usage of all network-connected devices and systems—no client-side agents or hardware meters required.

"JouleX is the first company to successfully address the gap that has long existed in enterprise energy management," says John Mandile (pictured), managing director at Sigma Partners. "The JouleX team has set a new industry standard in terms of developing an innovative, yet practical and cost-effective solution that focuses on energy waste and reduction within the enterprise and then has the technology acumen to control it. We’re excited to be investing in JouleX to help expand the adoption of the JEM products and support its existing customers and partners."

JouleX has approximately 100 customers throughout North America and Europe and recently announced the opening of a new office in Tokyo, Japan. The company’s current technology partners include Cisco, Intel, VMware, Juniper Networks, Enterasys and Siemens.

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