If you’ve ever been left wondering whether or not your plugged-in coffee machine, microwave or air fryer was using energy despite not actively using the device, chances are, it probably was. Unplugging devices when they’re not in use can reduce a costly utility bill and lower greenhouse gas emissions. Cambridge-based Sense aims to provide consumers with the technology to monitor their devices and their energy consumption.
On Wednesday, the startup pulled in $105 million in Series C funding led by Blue Earth Capital, bringing Sense’s total funding raised to date to $157 million.
Sense’s fresh funding will go toward creating partnerships with home construction and smart home innovators along with expanding the company into Europe and Asia. Additionally, Sense is also hiring for nearly 30 positions.
“We founded Sense with the mission to impact climate change, starting with the award-winning Sense Home Energy Monitor for consumers. But we’ve always known that the fastest path to mass market adoption is to get our core technology built into the infrastructure of homes,” Sense CEO Mike Phillips said in a statement. “This funding allows us to work with our key strategic partners to bring Sense intelligence into millions of homes.”
Sense’s technology is backed by machine learning and helps consumers identify which devices in their homes utilize the most energy. By doing so, the company aims to increase energy efficiency and reduce energy costs for customers.
“As the market leader in home energy consumption data and analytics, we believe Sense is well-positioned to drive significant energy efficiency, increase flexible energy demand, improve grid edge visibility and reduce carbon emissions,” Kayode Akinola, global head of private equity direct investments at Blue Earth Capital, said in a statement. “We look forward to supporting Mike and the Sense team to scale their operations.”
