EnTouch Controls, an energy management and monitoring company has secured $6 million in Series C round of funding led by Trailblazer Capital, SJF Ventures and NRG Energy.
Richardson-based EnTouch Controls startup provides energy management as a service (EMaaS) to retailers and restaurants. In the first half of 2015, the company acquired over 1000 customer locations and its revenue doubled in comparison with the previous year. Recently, the startup has expanded its partnership agreements with NRG Energy and Reliant Energy, improved its demand response and brought in advanced peak energy management service offerings. It also signed a strategic partnership agreement with Interface to boost its future sales. It’s clientele list includes chain of restaurants like TGIFridays, Chuck E.Cheese, Pizza Hut and retailers like JCPenny and lot more.
“Multi-site restaurant and retail companies struggle with energy management and have a real need for a solution that can reduce energy waste while improving the performance of their facility infrastructure,” said EnTouch CEO Greg Fasullo. “They need the critical and relevant data we deliver because it provides them real sight into operational performance and areas to increase profitability and improve guest experience.”
Around $20 billion a year is being spent for energy in restaurants and retailers according to the study by U.S. Small Business Administration. SBA estimated that lowering energy costs by 10% would be same as increasing sales by 1.55% and improving net profit margins as close to 4%. EnTouch’s platform EnTouch 360 degree combines wireless control systems with cloud-based analytics and energy management software that allows businesses consumer energy much lower.
The fresh funds has been planned to be use for the expansion of the company’s direct sales team and to hire new employees for the company support team. It would also be used to support strategic channel partners. The previous funding round in November 2013 helped the company secure $8.5 million.