Sense Raises $10M in Series B Funding

senseSense, a Cambridge, Mass.-based intelligent home energy monitor that provides real-time insights into energy and device activity in the home, raised approximately $10M in Series B funding.

Backers included MacKinnon, Bennett & Company and IDO Investments, along with previous investors Shell Ventures, Energy Impact Partners, Prelude Ventures, Capricorn Investment Group, and iRobot Corporation. They joined energy technology leaders Schneider Electric and Landis+Gyr, bringing the total B round investment to $30M.

Sense’s total funding now stands at $50M.

Founded in 2013 and led by CEO Mike Phillips, Sense uses machine learning technology to provide real-time insights on device behavior, even for those devices that are not “smart.” Customers use Sense for a wide range of uses including checking what time their kids get home, monitoring their home appliances, determining whether they left appliances running or doors open and identifying how to reduce their energy costs.

Investor Schneider Electric has integrated the company’s technology into its Wiser Energy System by Square D, and Landis+Gyr has announced plans to add the Sense app to its next generation smart meter platform.
The company also partners with Dividend Finance in the solar market and has signed on more than 200 solar installer partners.

FinSMEs

30/07/2019

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