Boston, MA, January 25, 2017 – Powerhouse Dynamics, creator of the award-winning SiteSage® enterprise asset and energy management system, reports that their growth has continued to accelerate over the past 12 months, enabling both the company and the SiteSage platform to evolve to meet the expanding needs of restaurants, convenience stores, retail stores, and other small commercial facilities. According to Verdantix, “Innovation will roar ahead in real estate, energy, and facilities management software in 2017”, and Powerhouse Dynamics captured this momentum in 2016 and is poised to soar to new heights in 2017.
SiteSage, in use at thousands of these facilities, uses “Internet of Things” (IoT) technology to connect, monitor, analyze, and control equipment, resulting in improved equipment uptime, lower energy consumption, reduced labor costs and, in food service settings, enhanced food safety.
After seeing revenue more than double from 2014 to 2015, Powerhouse continued its rapid pace of growth in 2016, and reported the following:
- The company closed multiple, multi-year, multi-million dollar rollouts with existing customers across each of its 3 core markets: restaurants, convenience stores and retail stores
- In addition, first-time contracts were awarded by a number of major new customers who combined operate thousands of locations
- During 2016 Powerhouse Dynamics announced the release of a full end-to-end on premise Food Safety solution. The application aggregates and analyzes data from fixed sensors, kitchen equipment with factory-installed SiteSage sensors, and wireless probes to fully automate food safety reporting, including tracking of work flows and corrective actions
- The company continued to expand its network of equipment manufacturers leveraging SiteSage to connect their equipment to the cloud, providing mutual customers with significant new transparency into operations. Added in 2016 were HVAC, refrigeration and fryer manufacturers, among others. The company also introduced a multi-faceted SiteSage “Integration Layer” that greatly simplifies the process of integrating SiteSage with equipment
- Powerhouse Dynamics continued to gain widespread recognition for the industry-leading SiteSage platform, with 7 awards in 2016 from organizations as diverse as IoT Evolution, Environmental Leader, Massachusetts Technology Leadership Council and the CleanTech Group
- The company closed on a $6M+ round of financing. Participants in the round include existing investors Constellation New Energy, Point Judith Capital, SOSVentures, and the Massachusetts Clean Energy Center, plus new investor Emerald Technology Ventures.
“The past 12 months have been extremely exciting and represent a real breakthrough for the company across multiple dimensions,” says CEO Martin Flusberg. “We see signs of early market maturation, meaning many more organizations are seeking solutions like SiteSage. We have extended our leadership position in leveraging IoT to deliver significant benefits to our customers, and are delighted to have won several awards recognizing our accomplishments in this area. Additionally, we are thrilled to welcome Emerald Technology Ventures as an investor, given their stellar reputation as an investor and their relationships with key players in related sectors. We look forward to taking advantage of the new financing to drive continued growth and innovation in 2017.”
About Powerhouse Dynamics
Powerhouse Dynamics uses cloud-based controls and analytics to deliver enterprise-wide energy and operational efficiencies to portfolios of small commercial facilities, including restaurants, convenience stores, retailers, and others. The award-winning Powerhouse Dynamics SiteSage platform reduces energy, maintenance, and repair expenses by connecting and centralizing control, analysis, and management of energy-consuming equipment.
Engineered specifically for smaller facilities, SiteSage features powerful functionality delivered via simple online and mobile interfaces. The system continuously enhances efficiencies by controlling major loads, monitoring power consumption and the performance of individual pieces of equipment, and tracking gas and water usage. Patented analytics deliver actionable intelligence via diagnostics and alerts. SiteSage’s enterprise-wide benchmarking capabilities identify underperforming facilities and assets. To learn more about how Powerhouse Dynamics’ customers maximize energy and equipment maintenance savings and enhance food safety with minimal staff effort, visit powerhousedynamics.com, or Twitter, LinkedIn, YouTube, or Facebook.