sensemetrics Inc., a San Diego, CA-based provider of an IIoT platform that transform sensor data into real-time situational awareness, active risk management and safety solutions, completed a Series A financing round of undisclosed amount.
The round was led by X2 I Equity, with participation from existing investors Mooring Ventures and Three Curve Capital. X2 I Equity’s CEO and Founder Marc Sperschneider will be joining the sensemetrics board.
The company, which has raised $10m in total financing to date, intends to use the funds:
- to further develop its engineering capabilities as well as its core platform,
- to increase sales and support functions in San Diego, Calif. and Denver, Colo., to expand its presence in core verticals in its growing North American Free Trade Agreement (NAFTA) business,
- to establish new sales, operations, and distribution channels in Europe, the Middle East and Africa (EMEA) and key Asian growth regions such as China, and
- to develop new use cases in adjacent industrial applications and markets.
Led by Matt Meehan, CEO, sensemetrics provides Fortune 500 companies and other businesses in mining, dams, energy and the industrial machine sector with an IIoT sensor platform that transforms industrial sensor data into real-time situational awareness, enabling active risk management and safety solutions. This result in a reduction in infrastructure cost, improved asset utilization, operational efficiency, and increased safety.