Nov. 20, 2013: EnTouch Controls Raises $8.25 Million for Expansion
Company Will Expand Its Energy Management Service Offerings
RICHARDSON, Texas — EnTouch Controls, a leading provider of cloud-based energy management systems for restaurant and retail chains, announced it has raised a total of $8.25 million in Series B equity and debt financing. The company said the new funding will be used to expand its energy management service offerings, accelerate development of energy analytics and load curtailment tools, and add to its sales and support staff to serve its growing set of national chain restaurant and retail customers.
According to the U.S. Small Business Administration (SBA), energy is one of the largest and most poorly managed operating expenses in small commercial facilities, costing restaurants and retail stores a total of $20 billion per year. The SBA estimates that lowering energy costs by 10 percent is equivalent to increasing sales per square foot by $25 for retailers and $17 for restaurants, but most restaurant and retail chains lack the people, process, or tools to do this themselves.