NEW YORK, NY--(Marketwired - Sep 1, 2016) - Energy Impact Partners (EIP) today announced that it has closed a $14 million investment in Sense Labs, Inc. (Sense), a leading home energy and awareness platform.
EIP is co-leading the investment with Shell Technology Ventures, along with participation from previous investors Capricorn Investment Group, Prelude Ventures, CRV, and hardware accelerator Bolt. Proceeds will be used to drive market adoption, develop channel partnerships and continue to enhance and expand product capabilities. Sense's hardware, software and consumer app enable a real-time view of home device and appliance behavior, improving efficiency and safety.
"We look for emerging companies that can enhance the relationship between utilities and their customers," commented Hans Kobler, CEO and Managing Partner at EIP. "Sense goes beyond simple reporting of residential energy information to providing broad home intelligence. Information and intelligence are the foundation of a smart home."
"Given the amount of data and information available to consumers today, it's striking how little homeowners know about what is going on where they live," added Lindsay Luger, Managing Director at EIP who led the deal. "Sense addresses this void by providing the underlying, broad intelligence layer of the smart/connected home today, even before most home appliances and devices are actually 'smart'."
"EIP brings not only growth capital, but the unique value of a broad coalition of utility partners," said Michael Phillips, CEO and co-founder of Sense. "This investment comes at an important time in our company's growth. We will use it to build out our team, expand our feature set, and enhance our device detection capabilities. We are delighted to welcome EIP as our co-lead investor."
Sense's patented machine learning technology measures power one million times per second, providing homeowners with real-time data and insights on individual device behavior (whether or not those devices are 'smart'). Sense's mission is to keep people informed about what's happening in their homes; providing peace of mind when they're away and helping to make homes safer and more efficient. Customers rely on Sense for a wide range of uses including checking what time their kids get home, monitoring their home appliances, determining whether they left appliances running or doors open, and identifying how to reduce their energy costs.
About Energy Impact Partners
Energy Impact Partners is a collaborative strategic investment fund that invests in companies optimizing energy consumption and improving sustainable energy generation. Through close collaboration with its strategic investor base, EIP seeks to bring the best companies, buying power and vision in the industry to bear on the emerging energy landscape. EIP's partners include Southern Company (NYSE: SO), National Grid (NYSE: NGG), Xcel Energy (NYSE: XEL), Ameren (NYSE: AEE) and Great Plains Energy (NYSE: GXP). For more information, visit www.energyimpactpartners.com.
Sense makes homes more reliable, efficient, and secure. Sense lets homeowners understand what's happening in their home by telling them what devices are on in their house and how much energy each is consuming. Founded in 2013 by pioneers in speech recognition, Sense uses powerful machine learning technology to listen to every device's unique electronic signature and interpret its power consumption. Sense is headquartered in Cambridge, Mass. To make sense of your energy, visit: www.sense.com.