ETS (Energy Technology Savings), a Livingston, N.J.-based energy technology, behavior management and smart building service provider, is raising $3m in Series C-1 funding.
As part of the $3m offering, priced at a pre-money valuation of the company at $44m, the company has already raised $1.8m from existing investors and is looking to new strategic partners to complete the funding round over the next six months.
ETS will use the funds for continued development of its artificial intelligence (AI) software and geographic expansion, with a particular focus on the West Coast.
Led by Chief Executive Officer Jeff Hendler, ETS provides a Smart Building AI Platform (“SmartKit AI™”), an integrated mobile software suite for building operations and energy management. The mobile software suite provides real-time data transparency, monitoring, predictive analytics and digital management tools that reduce energy and operating costs. The innovative technology optimizes performance of building systems; generates revenue from onsite assets, including heating, ventilation, and air conditioning (HVAC) systems and other distributed energy resources; and links energy saving actions to efficiency goals and rewards.