Enlighted, a US-based internet of things (IoT) technology developer that counts semiconductor technology producer Intel as an investor, raised $25m in series D funding yesterday.
The cash was provided by existing backers including venture capital firms Kleiner Perkins Caufield & Byers (KPCB), RockPort Capital Partners and Draper Fisher Jurvetson (DFJ), and investment firm Tao Capital Partners, which took part in the round as a new investor.
Founded in 2009, Enlighted has built a digital sensor and analytics platform for smart buildings, enabling users to collect data concerning light, heat and energy consumption that would help them run the buildings more efficiently.
The equity will be used by Enlighted to develop more IoT apps and expand into France, Germany and the UK. It was secured alongside an agreement for $20m of debt financing from Square 1 Bank, a division of financial services provider Pacific Western Bank.
Joe Costello, Enlighted’s CEO, said: “With this war-chest of funding – including new active investor Tao Capital Partners – Enlighted is poised to grow exponentially and accelerate the adoption of decision-making data solutions for intelligent real estate.
“Our emphasis on engineering IoT apps means we can provide our customers more ways to make the data our advanced sensors are collecting actionable, further improving efficiencies of buildings for the enterprise.”
Enlighted has now raised approximately $82m altogether, with the series D round following a $20m round in 2014 featuring KPCB, RockPort, DFJ, Draper Nexus Ventures and Intel Capital, Intel’s corporate venturing unit.
Intel Capital had already participated in the company’s $14.2m series B round in 2011 and a $20m series C two years later.
– Image courtesy of Enlighted, Inc.