JouleX Secures $17 Million in Expansion Capital
Leading Enterprise Energy Management Technology Innovator Raises Capital to Expand Development and Sales Support Globally
ATLANTA — June 10, 2011 — JouleX, the leading innovator in enterprise energy management systems for data centers, distributed office environments, and facilities, today announced it received $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 plans to use the capital 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. “We are leading the way to provide companies with an innovative energy management system for the entire enterprise that will help them achieve real cost savings and meet sustainability goals. 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 the first network-based, “agentless” energy management system that measures the energy consumption and utilization of all network-connected devices and systems to provide visibility into power usage across the enterprise. Deployed in distributed offices, data centers and facilities, the JEM technology reduces energy costs by monitoring, analyzing and controlling energy usage of all network-connected devices and systems—no client-side agents or hardware meters required.
“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.”
JouleX has approximately 100 customers throughout North America and Europe and recently announced the opening of a new office in Tokyo, Japan. The company’s current technology partners include Cisco, Intel, VMware, Juniper Networks, Enterasys and Siemens.
JouleX is the leading innovator in sustainable energy management systems for the enterprise. Its flagship solution, the JouleX Energy Manager (JEM), provides the Global 2000 and government agencies with the ability to monitor, analyze and control energy usage for all network-connected devices and systems across the enterprise, including in distributed offices, data centers and facilities. Importantly, JEM works without the use of software agents, dramatically reducing installation time and removing the maintenance burden associated with similar technologies. JEM decreases energy costs by up to 60 percent while ensuring availability and provides robust reporting that enables compliance with emerging carbon monitoring requirements.
JouleX was founded in 2009 and since has been distinguished with recent awards and accolades including Gartner Cool Vendor in Green IT and Sustainability, GE Ecomagination Award, BT Green Economy Success for Future Award and Clean Tech Media Award. The company is headquartered in Atlanta with worldwide offices located in Tokyo, Paris, Munich and Kassel, Germany. For more information, please visit www.joulex.net, call (404) 567-4445 or send an email to email@example.com.
About Sigma Partners
Founded in 1984, Sigma Partners is a leading early-stage venture capital firm. The Sigma team uses their deep operational experience to provide entrepreneurs with practical strategic counsel through every phase of company growth. With over $2 billion under management and bicoastal offices, Sigma invests in innovative technology startups across the United States. The team is currently investing Sigma Fund 8, a $500 million fund. Market leading companies in which Sigma has invested include Atria, Cascade, Clarify, EqualLogic, Fortify Software, Initiate Systems, Internet Security Systems, KACE Networks, KLA-Tencor, Octel, Responsys, VeriFone, Vermeer and Vignette. For more information, please visit http://www.sigmapartners.com.
About Flybridge Capital Partners
Flybridge Capital Partners is an early-stage venture capital firm whose mission is to assist entrepreneurs in growing innovative, global companies. With $560 million under management, the firm is focused on investing in consumer, energy, healthcare and information technology markets and is led by a team with domain expertise and more than half a century of combined experience in venture capital. For more information, please visit www.flybridge.com.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10 billion in over 1,140 companies in 49 countries. In that timeframe, 191 portfolio companies have gone public on various exchanges around the world and 268 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the United States and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com.
About Target Partners
With $225 million under management, Target Partners is one of the leading early-stage venture capital funds in Germany. The firm invests in start-up and early stage companies and supports them during their build-out and expansion phases. With many years of experience as managers, entrepreneurs and venture capitalists, the team at Target Partners supports entrepreneurs in developing and marketing products and services, building organizations, raising money and taking companies public in Europe and the United States. For more details: www.targetpartners.de
TechOperators is an early-stage venture capital firm founded on the premise that proven operators make the best partners for technology entrepreneurs. Based in Atlanta, Georgia, the firm is led by a team of partners with recent operational experience in all phases of company growth and is focused on innovative solutions in software, Internet services, cloud computing, security, infrastructure, and mobile computing. For more information, visit www.techoperators.com.
© 2011 JouleX is a registered trademark of JouleX, Inc. JouleX Energy Manager (JEM) and Load-Adaptive Computing are trademarks of JouleX, Inc. All other brands and product names may be trademarks or registered trademarks of their respective holder.