Sense adds to Series C, totaling $127.6 million, with Volery Capital Investing

CAMBRIDGE, Mass., September 14, 2022 /PRNewswire/ — Sense, the leader in real-time home energy intelligence, has announced the closing of $127.6 million in a Series C funding with Volery Capital Partners joining Blue Earth Capital, TELUS Ventures, MCJ Collective, Schneider Electric, Energy Impact Partners, Prelude Ventures, iRobot and others.

This investment brings Sense’s funding to date to US$179.6 million and enables the company to accelerate consumer adoption in partnership with smart home innovators, utilities, insurers and the construction industry. Sense will also expand its global footprint to Europe, Asia Pacific and other regions.

Led by machine learning pioneers who have commercialized voice recognition technology in hundreds of millions of mobile phones, Sense’s mission is to reduce global carbon emissions by making homes smarter and more efficient. Sense provides engaging consumer apps that give people real-time insight into how energy is being used in their home so they can save money, make their home more reliable, and prevent household disasters.

For example, the Sense app can reveal hidden electrical problems such as floating neutrals and arcs in household electrical wiring, appliance failures that can lead to electrical fires, continuously running water heaters, or broken pumps. . With this knowledge, Sense can help consumers, utilities and insurers reduce risk.

Through go-to-market partnerships, Sense has been integrated into smart meters from Landis+Gyr and smart electrical panels from Schneider Electric. These partnerships are expected to lead to large-scale deployment of Sense intelligence in millions of homes, where it will enable automated energy savings, reduce carbon emissions and contribute to grid flexibility.

Said Sense CEO Mike Phillips: “A decarbonized and digitized grid and the electrification of homes and vehicles is the most viable path to reduce the carbon impact of homes and transport. As the world moves towards this reality, consumers will play a crucial role in this energy transition. With smart Sense embedded in millions of homes, we will help people and the grid evolve to cope with climate change.”

Manny LemonManaging Partner of Volery Capital, said, “We believe Sense’s technology is significantly differentiated and has the potential to be a critical part of the energy transition, providing a critical enabling data layer for use cases. , including energy efficiency, automated demand and behavioral response, network analysis, insurance risk management and home energy audits.We look forward to working with Mike and the Sense team to help them seize this opportunity.”

About Sense

Sense’s mission is to reduce global carbon emissions by making homes smarter and more efficient. We empower people to take care of their homes and families while contributing to a cleaner, more resilient future. Founded in 2013 by voice recognition pioneers, Sense uses machine learning technology to provide real-time insights into device behavior, even for devices that aren’t “smart”. Customers rely on Sense for a wide range of uses, including monitoring their home appliances, determining if they’ve left appliances running, and identifying how to reduce their energy costs. Sense is headquartered in Cambridge, Mass. To give meaning to your energy, visit: https://sense.com.

Citigroup Global Markets, Inc., served as the Company’s exclusive financial advisor for all of the Series C.

About Volery Capital Partners

Volery Capital Partners is a growth-stage private equity firm that invests in companies that address climate change or economic inclusion. Volery’s portfolio includes financial services and technology companies thematically focused on energy transition, resource efficiency, financial inclusion and well-being. For more information, visit www.volerycapital.com.

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