EnTouch Controls, a US-based energy management software provider backed by power producer NRG Energy, closed an $8m series C round led by private equity firm Egis Capital Partners yesterday.
Egis was joined by growth equity firm Traverse Venture Partners, mutual fund manager Calvert Investments, VC fund Trailblazer Capital and VC firms SJF Ventures and Aster Capital.
EnTouch has built a turnkey system that utilises data analytics to make buildings use energy more efficiently, helping their managers cut consumption and eliminate inefficiencies.
The round, which reached a first close in August 2015, will be used to grow EnTouch’s sales and marketing team.
SJF previously led EnTouch’s $8.3m series B round in 2013, which included NRG, Trailblazer and an expanded debt facility from Comerica Bank. EnTouch has raised approximately $20m in financing since it was founded in 2011.
Kevin Deneen, senior associate at Aster Capital, said: “EnTouch is at a very exciting stage of development, having proven an ability to scale a strong technology backbone and robust service offering to meet the needs of a large and demanding customer base.
“We are delighted to invest alongside a strong group of investors, both new and existing. The diverse set of experience and wide industry networks around the table will provide the EnTouch team with additional leverage to capitalise on the growth opportunity in front of them.”
Aster Capital is backed by limited partners including power technology producers Schneider Electric and Alstom, and chemicals supplier Solvay.
– Image courtesy of EnTouch Controls