Enmetric Systems Closes $1.5 Million Financing Round
Navitas Capital leads, with participation from new investor Azure
Steve Capelli, former President of Sybase, joins Board of Directors
BELMONT, Calif. -- September 30, 2013
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,
andEnmetric 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 JakeMasters, 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.
Bob Larson, 650-489-4441
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