RICHARDSON, TEXAS – Aug. 17, 2015 – EnTouch Controls, a market leader of energy management as a service (EMaaS), announced today that it has closed the initial round of a $6 million Series C financing.
The financing comes after a period of accelerated growth for the company, which provides energy management as a service (EMaaS) to leading restaurant and retail companies. The company acquired more than 1,000 customer locations in the first half of 2015 and more than doubled its revenues when compared to the previous year. Investors in the company include Trailblazer Capital, SJF Ventures, and NRG Energy, Inc. (NYSE:NRG).
Along with its significant revenue growth, the company expanded its partnership agreements with NRG Energy and Reliant Energy, enhanced its demand response (DR) and advanced peak energy management service offerings and signed a strategic partnership agreement with Interface Security that will contribute to future sales growth.
“Multi-site restaurant and retail companies struggle with energy management and have a real need for solution that can reduce energy waste while improving the performance of their facility infrastructure. They need the critical and relevant data we deliver because it provides them real insight into operational performance and areas to increase profitability and improve guest experience,” said Greg Fasullo, Chief Executive Officer of EnTouch Controls. “Our ongoing investment in our technology has allowed us to create the best-in-class platform for the industry, this additional investment from our valued investors will allow us to further accelerate our sales growth.”
The funds will be used to expand the company’s direct sales team and increase staffing to support strategic channel partners.
Energy costs restaurants and retail companies over total of $20 billion per year according to the U.S. Small Business Administration (SBA). The SBA estimates that lowering energy costs by 10 percent is equivalent to increasing sales by 1.55 percent and improving net profit margins by as much as 4 percent.
EnTouch Controls’ managed service platform, EnTouch 360°™, solves this growing problem by combining wireless control systems with cloud-based analytics and energy management software, enabling businesses to effectively optimize HVAC, lighting, refrigeration system performance, identify pending equipment failures, and lower energy consumption by 10 percent or more.
About EnTouch Controls
EnTouch is a pioneer and industry leader in providing energy management as a service (EMaaS). The company’s award winning EnTouch 360™ provides a dedicated team of energy experts who leverage their leading-edge software, best-in-class hardware and real-time analytics to significantly reduce energy consumption while maximizing energy savings. The managed service also provides visibility across key assets while improving operational efficiency and enhancing overall guest comfort. EnTouch 360™ is recognized as the premier solution for its ease-of-use and unprecedented return on investment (ROI). EnTouch serves customers in diverse business segments, which includes restaurant, retail, healthcare, financial services, hospitality and education. Connect with EnTouch Controls via www.entouchcontrols.com, Facebook, Twitter and our blog.
David Rodewald / Amber Hack
The David James Agency