Enmetric Systems, Inc., a Belmont, CA-based provider of plug load management solutions for the enterprise, closed a $1.5m follow-on financing.
The round was led by Navitas Capital with participation from new investors Azure International, Lakewest, Inc. (Belgravia Group, Ltd.), and other angel investors. In conjunction with the deal, Chris Raczkowski, Managing Director of Azure International, will join Enmetric’s board of directors as an observer. In addition, Steve Capelli, a former President at Sybase (an SAP Company), participated in the round, joined Enmetric’s Board of Directors, and will join the operating team in an advisory role.
The company intends to use the funds to accelerate rollout of its solutions.
Led by Jake Masters, Founder and CEO, Enmetric provides data-driven, plug load management solutions which, in practice, enable enterprises to monitor, control and reduce energy use and cost.
The platform provides real-time energy use data, automated control, measurement, and communication for individual electrical plug loads in offices. The core technology is integrated directly into common electrical interfaces, such as power strips, outlets, circuit breakers, and light switches. The company’s enterprise management software platform collects data to support software applications including reporting, peak-load reduction, load shifting, demand response, space optimization and device audits.