Sense, a Cambridge, MA-based provider of an intelligent home energy monitor, closed an $18M Series B financing.
The round, which brought total funding to date to $38.6M, was led by Schneider Electric, with participation from Prelude Ventures, Capricorn Investment Group, Shell Ventures, Energy Impact Partners, and iRobot.
The company intends to use the funds to pursue broader consumer adoption with a partnership ecosystem that includes home construction, energy providers, and smart home innovators.
Led by CEO Mike Phillips, Sense provides an intelligent home energy monitor, which gives real-time insights into energy and device activity in the home. Customers use it for a wide range of uses including checking what time their kids get home, monitoring their home appliances, determining whether they left appliances running, and identifying how to reduce their energy costs. Its patented machine learning technology measures power one million times per second, identifying devices in the home based on their electrical signals and providing homeowners with insights on individual device behavior.