Powerhouse Dynamics Raises $3 million in Series A Financing
Expansion capital to be used to fuel deployments in restaurants and other commercial chains
Boston, MA - November 1, 2011. Powerhouse Dynamics (www.powerhousedynamics.com), a technology leader focused on lowering energy costs for its customers, announced today it had raised $3 million in Series A funding, which will fuel its expansion into the commercial facilities market.
Since its introduction for consumers in 2010, the company’s award-winning eMonitorTM has been saving customers 20% or more on their energy costs. The company has recently released a commercial version of its product, the eMonitor c-Series, targeted at small commercial facilities, such as restaurants, convenience stores and retail stores. In the U.S. alone, there are 4 million commercial buildings under 20,000 square feet that are generally too small for traditional building energy management systems, but can realize savings from the eMonitor.
“We’re now rolling out energy control and cost savings to small business users, enabling them to cut their energy costs significantly and receive a very rapid ROI,” said Martin Flusberg, CEO of Powerhouse Dynamics. "For the first time, energy management and savings are well within the reach of these companies."
The financing was led by SOSventures (www.SosVentures.com). Existing investors also participated in the round.
Sean O’Sullivan, Managing Director of SOSventures, said, “Powerhouse Dynamics is a game changing company for those concerned about rising energy costs in this tight economy. While consumers have benefited from this technology for the past few years, we see an even bigger win in giving businesses the same ability to understand and manage the often hidden costs of energy consumption.”
Powerhouse Dynamics was recently named by Always On as one of the 2011 Going Green Global 200 Top Private Companies.
About Powerhouse Dynamics
Powerhouse Dynamics’ eMonitorTM is the first cost-effective, intelligent energy management solution designed to monitor all uses and sources of energy while controlling major loads. The eMonitor uniquely monitors a building’s electrical power consumption at the circuit level, providing ongoing analysis, diagnostics and alerts to deliver actionable intelligence and control strategies. Thousands of customers have saved money and energy with the eMonitor, which was first released in 2010.
SOSventures is a venture capital and investment management firm with an 18 year track record of successful investments in the software, telecommunications, and Energy Technology/Information Technology fields.