RICHARDSON, Texas--(EON: Enhanced Online News)--EnTouch Controls, a leading provider of cloud-based energy management systems for restaurant and retail chains, today announced it has raised a total of $8.25 million in Series B equity and debt financing.
“We’re incredibly pleased with this round of funding as it validates the company’s business model and direction while allowing us to accelerate our investments into the analytics and tools that automate energy reduction and lower operating costs for our customers”
The financing was led by SJF Ventures and included new investor NRG Energy, Inc. (NYSE:NRG) and the company’s initial investor Trailblazer Capital. The round includes an expanded debt facility from Comerica Bank’s Technology and Life Sciences Division.
The new funding will be used to expand the company’s 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.
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 according to the U.S. Small Business Administration. The SBA estimates that lowering energy costs by 10% 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.
EnTouch Controls solves this problem with a software-as-a-service (SaaS) automation system specifically designed for retrofit applications. The company announced its EnTouch 360°™ platform that integrates turnkey installation, management analytics, and issue ticketing and resolution tracking that detects HVAC maintenance issues, optimizes performance and lowers energy costs for national chains, franchise owners, schools and offices.
“We’re incredibly pleased with this round of funding as it validates the company’s business model and direction while allowing us to accelerate our investments into the analytics and tools that automate energy reduction and lower operating costs for our customers,” said Greg Fasullo, CEO of EnTouch Controls.
“Significant investment has gone into energy management systems for large buildings and for homes, but very little into solutions for small retail facilities,” said David Kirkpatrick, SJF Managing Director and Co-Founder. “EnTouch’s system takes advantage of new wireless and machine-to-machine (M2M) technology to deliver immediate energy savings and ROI while providing enterprise-level analytics and controls for managers of hundreds of stores.”
“The EnTouch Controls team continues to expand on its managed service offerings for national chains and customers are responding by increasing single-digit store deployments to triple-digit store deployments,” said David Matthews, Managing Partner at Trailblazer Capital. “I’m looking forward to working with our new partners and scaling the company to the next level.”
"We are pleased to expand our relationship with EnTouch Controls,” said David Whiting, Senior Vice President and DFW Regional Manager of Comerica’s Technology & Life Sciences Division. “The debt facility will continue to support the company’s growth in the energy management space."
About EnTouch Controls
Based in Richardson, Texas, EnTouch Controls is composed of a team of energy and telecom industry veterans with a history of leveraging technology to solve real world problems. The innovative EnTouch EMS is a unique energy management offering for small business owners who have been left behind by traditional building automation solutions. The EnTouch 360™ managed service takes the EMS a step further by providing expert support in managing energy use and evaluating system issues. EnTouch Controls provides installation, technical support and continuous monitoring of energy usage, system performance and maintenance issues. This enables energy reductions while freeing business owners to focus on what they do best, manage their business.
About SJF Ventures
SJF Ventures is a growth equity fund with offices in Durham, NC, New York and San Francisco. SJF has a 14-year successful record of assisting visionary and talented management teams in building industry-leading firms. SJF provides deep expertise and networks in the resource efficiency and technology-enhanced services sectors. SJF has invested in 41 companies, many with SaaS business models similar to EnTouch Controls, such as Versify Solutions, EasyMetrics, Optoro, ServiceChannel and Think Through Learning. Other Texas-based SJF portfolio companies include eRecyclingCorps, Living Earth and Vital Farms. For more information, visit www.sjfventures.com.
About Trailblazer Capital
Trailblazer Capital is an early stage growth venture capital investor focused on companies with a disruptive business model, a sustainable competitive advantage, and an experienced management team. With an investment portfolio ranging from gaming technology to software to capital efficient green technology, the team at Trailblazer partners with leaders to build great companies with a focused business model and crisp execution.
About Comerica Bank
Comerica Bank is a subsidiary of Comerica Incorporated (NYSE: CMA), the largest U.S. commercial bank headquartered in Texas, strategically aligned by three business segments: The Business Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to 136 banking centers in Dallas/Fort Worth, Houston, Austin, San Antonio and Kerrville regions of Texas, Comerica Bank locations can be found in Arizona, California, Florida and Michigan, with select businesses operating in several other states, as well as in Canada and Mexico. To find Comerica on Facebook, please visit www.facebook.com/ComericaCares.