Intelligent Home Energy Monitor Company Sense Raises About $10 Million

By Dan Anderson ● July 30, 2019
  • Intelligent home energy monitor company Sense announced that it has raised approximately $10 million in Series B

Sense — an intelligent home energy monitor company that provides real-time insights into energy and device activity in the home — announced it raised approximately $10 million for its Series B round with investments from MacKinnon, Bennett & Company (“MKB”) and IDO Investments along with previous investors.

These new investors are joining energy technology leaders like Schneider Electric and Landis+Gyr to bring the total B round investment to $30 million. Including this round, Sense has raised a total of $50 million since the company launched.

Sense’s earlier investors including Shell Ventures, Energy Impact Partners, Prelude Ventures, Capricorn Investment Group, and iRobot Corporation all participated in the B round — which had a first close in October 2018.

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“These additional investments from MKB and IDO Investments reflect our shared vision of a smart, energy-aware home. From the company’s founding, we envisioned a future when homes would share information about themselves with their owners, who could make better decisions about how to live in today’s world. Our investors share this vision and are helping us create a powerful ecosystem that will accelerate Sense’s market growth,” said Sense CEO Michael Phillips in a statement.

Schneider Electric integrated Sense technology into its Wiser Energy System by Square D. And Landis+Gyr also announced its plans to add the Sense app to its next-gen smart meter platform. Plus Sense also partnered with Dividend Finance in the solar market and signed on more than 200 solar installer partners.

“Sense enables consumers to better understand their home energy use so they can reduce energy consumption and make more informed decisions about their increasingly smart and connected home. MKB is delighted to support Sense as it forges a new era of consumer energy awareness and action,” added Ken MacKinnon — a Managing Partner at MKB. 

CB Insights ranked Sense in the top 100 most promising private artificial intelligence companies in the world this year. Plus Sense was also selected as a 2019 Red Herring Top 100 North America winner.

“At IDO Investments we strive to partner with companies that pioneer innovative technologies. Energy efficiency and demand response are constantly gaining importance globally, and we see Sense Labs playing an important role in the energy space. Their product is intuitive and produces valuable data for homeowners and various stakeholders in the energy sector. We see great potential in Sense and the value it can bring to Omanand the region,” noted IDO Investments CEO Dr. Philip Boigner.