Enmetric Systems, a provider of plug load management solutions for the enterprise, has closed on a $1.5m follow-on financing led by cleantech-focused venture capital firm Navitas Capital with participation from new investors including Azure International, Lakewest and several angel investors.
The financing round will accelerate Enmetric’s rollout of its data-driven, plug load management solutions, the company said. Its technology enables enterprises to monitor, control and reduce energy use and cost.
Chris Raczkowski, managing director of Azure International, will serve on Enmetric’s board of directors as an observer.
“As an investor and advisor to Enmetric, I’m excited to welcome Steve to Enmetric’s Board and our new strategic capital partners to the table,” said Brad Buss, CFO of Cypress Semiconductor andboard member of Tesla Motors. “Adding Steve’s track record of building and managing a billion dollar-plus sales operation in the enterprise software space comes at the perfect time as we begin to accelerate Enmetric’s growth.”
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