IoT Leader Secures $25 Million in Equity Financing
Company looks to grow and accelerate adoption of its decision-making data solutions
SUNNYVALE, Calif. — Enlighted Inc., a leading provider of Internet of Things (IoT) solutions for commercial buildings, announced that the company secured $25 million in Series D funding to accelerate its IoT app development and expand international distribution to France, Germany, and the United Kingdom.
“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,” said Enlighted CEO Joe Costello. “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 also announced a new partnership with Square 1 Bank, a division of Pacific Western Bank, to provide Enlighted with $20 million in additional liquidity to help finance its accelerated growth plans.
Enlighted’s IoT system utilizes advanced digital sensors and analytics. The company’s first-to-market apps — Aire, a HVAC management tool, and Space, a space-planning tool — use the data collected by its sensors to help significantly improve the efficiency of commercial buildings. The system is installed in more than 100 million square feet nationwide in Fortune 500 companies including Google, AT&T, and HP.
Costello said, “Installing the Enlighted IoT platform is like giving your building a brain. We can provide software solutions for energy savings, asset tracking, real time information about building utilization, and security for buildings and people, to name a few. The game really has changed.”
For more information, visit www.enlightedinc.com.
Publication date: 3/3/2016