BELMONT, Calif.--(BUSINESS WIRE)--Enmetric Systems, Inc., the leading provider of plug load management solutions for the enterprise, today announced it has closed on a $1.5 million follow-on financing led by Navitas Capital with participation from new investors including Azure International, Lakewest, Inc. (Belgravia Group, Ltd.), and several prominent angel investors.
The financing round will accelerate Enmetric’s rollout of its data-driven, plug load management solutions which, in practice, enable enterprises to monitor, control and reduce energy use and cost. Chris Raczkowski, Managing Director of Azure International, will serve on Enmetric’s board of directors as an observer.
"A growing number of the world's largest and best run companies are requesting data-driven solutions to help manage and optimize their facilities. Plug loads represent the largest opportunity in enterprise energy management, and Enmetric is delivering a ‘best in class’ solution, leveraging our scalable, cloud-based wireless architecture. Importantly, Enmetric is uniquely positioned, as we can provide data-driven solutions across the Enterprise,” said Jake Masters, Founder and CEO of Enmetric.
In addition, Enmetric announced that Steve Capelli, a former President at Sybase (an SAP Company), participated in the round, joined its Board of Directors, and will join the operating team in an advisory role. “What’s exciting about Enmetric is that we now have a technology for the enterprise that addresses how individuals can easily contribute to cost savings and asset management for the enterprise without giving up control –- and it’s measurable too,” said Capelli.
“As an investor and advisor to Enmetric, I'm excited to welcome Steve to Enmetric's Board and our new strategic capital partners to the table,” added Brad Buss, CFO of Cypress Semiconductor and Board Member of Tesla Motors. “Adding Steve's track record of building and managing a billion dollar-plus sales operation in the enterprise software space comes at the perfect time as we begin to accelerate Enmetric's growth.”
About Enmetric Systems
Enmetric Systems is the leading provider of enterprise plug load management solutions, enabling large companies and organizations to monitor, control and reduce enterprise-wide energy use and cost. Enmetric’s platform provides real-time energy use data, automated control, measurement, and communication for individual electrical plug loads in offices. The core technology is integrated directly into common electrical interfaces, such as power strips, outlets, circuit breakers, and light switches. In addition, Enmetric’s enterprise management software platform collects granular data to support software applications including reporting, peak-load reduction, load shifting, demand response, space optimization and device audits. For more information, please visit http://www.enmetric.com.