JouleX, which makes energy tracking and management software for data centers, has raised $17 million in investment capital from new investors Sigma Partners, Flybridge Capital Partners and Intel Capital, in addition to existing investors Target Partners and TechOperators. JouleX says it will use the money to expand its development and sales footprint into growth markets around the world.
“The widespread need for enterprises around the world to better measure and manage energy usage presents an incredible opportunity for JouleX,” said Tom Noonan, president and CEO at JouleX. “This investment will allow us to accelerate the introduction of our JouleX Energy Manager family of products into regions around the world where optimizing energy usage and driving energy efficiency are mission-critical for conducting business.”
The company’s technology platform, JouleX Energy Manager (JEM), is a network-based “agentless” energy management system that detects network-connected devices and measures their energy consumption and resource utilization. JouleX has approximately 100 customers throughout North America and Europe.
“JouleX is the first company to successfully address the gap that has long existed in enterprise energy management,” said John Mandile, managing director at Sigma Partners. “The JouleX team has set a new industry standard in terms of developing an innovative, yet practical and cost-effective solution that focuses on energy waste and reduction within the enterprise and then has the technology acumen to control it. We’re excited to be investing in JouleX to help expand the adoption of the JEM products and support its existing customers and partners.”
At the recent Data Center World conference, Mark Davidson of JouleX told us about the company and demonstrated the software and some of its capabilities. This video runs about 12 minutes.