Phoenix Energy Technologies, an Aliso Viejo, CA-based IOT business intelligence analytics company and leader in smart buildings, raised an undisclosed growth capital.
The round was led by Spring Lake Equity Partners and Energy Innovation Capital (EIC) in partnership with management. They joined existing shareholders including Duke Energy.
The company intends to use the funds to accelerate product development and facilitate entry into the retail, grocery, healthcare, and other commercial and institutional markets
Led by Glen Schrank, CEO, Phoenix Energy Technologies has been providing Smart Building IoT analytics solutions to customers for over 15 years. Its industry expertise combined with the capability of connecting to building systems and equipment without additional hardware, brings together actionable data into a standardized web-based platform. The Company’s EnterpriseDX IoT data platform generates ROI for customers by optimizing equipment efficiency that reduces energy costs, decreases repair and maintenance spend, and lowers capex by extending the life of assets.