EnTouch Controls Completes $8M Series C Financing Round
The commercial market energy management specialist said the new financing will allow it to expand its sales and marketing team.
RICHARDSON, Texas – EnTouch Controls, a provider of facility asset and energy management systems, said it has completed an $8 million round of Series C financing. Led by Egis Capital Partners, the round included new investors Traverse Venture Partners, Aster Capital and Calvert Investments, along with existing investors SJF Ventures and Trailblazer Capital.
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In a press release, EnTouch said the round will allow it to expand its sales and marketing team and capitalize on its leadership position in the commercial Internet of Things (IoT) market.
The company said the financing comes on the heels of a record year as it tripled orders, expanded its footprint of connected facilities to over 4,000 locations, and added enhanced energy and facility management features that support demand response (DR), peak energy management (PEM), and food-safety reporting and monitoring. In addition, the company recently signed strategic partnership agreements with EnerNOC and Interface Security Systems.
“Multilocation building owners and tenants are increasingly looking to reduce energy costs and drive operational efficiencies, yet often lack the necessary internal resources,” says Martin Aares, partner at Traverse Venture Partners. “EnTouch solves this problem with an externally managed service that uses data-driven analytics to benchmark and improve facility performance. The company’s rapidly growing list of satisfied customers confirms it has developed a winning formula.”
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