How Much Did Sense Raise? Funding & Key Investors

Sense has successfully raised funding through six rounds, with the latest being a Series C round. The company is backed by 20 investors, including Gutbrain Ventures, Volery Capital Partners, and Blue Earth Capital.

Sense offers real-time energy intelligence for homes and the grid, aiming to reduce global carbon emissions. Keep reading to explore the intricacies of Sense's fundraising journey and the investors backing this innovative platform.

What Is Sense?

Sense, founded in 2013, is a company dedicated to providing real-time energy intelligence for homes and the grid. Located in Cambridge, Massachusetts, Sense operates in various industries, including Consumer Electronics, GreenTech, Hardware, Internet of Things, Smart Home, Software, and Speech Recognition.

With a team of 101-250 employees, Sense specializes in tracking devices and home automation solutions. The company's mission is to reduce global carbon emissions by offering smart meters and the Sense Monitor, which help users manage their energy use, reduce electricity bills, and lower their carbon footprint.

How Much Funding Has Sense Raised?

1. Seed Round
   • Amount Raised: USD 3,999,998
   • Date: January 2014
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop initial product offerings and establish market presence.
2. Series A
   • Amount Raised: USD 15,000,000
   • Date: September 2016
   • Lead Investors: Energy Impact Partners, Shell Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product development.
3. Series B (First Round)
   • Amount Raised: USD 18,000,000
   • Date: October 2018
   • Lead Investors: SE Ventures
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand market reach and improve technology.
4. Series B (Second Round)
   • Amount Raised: USD 10,000,000
   • Date: July 2019
   • Lead Investors: MacKinnon, Bennett & Company
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further enhance product capabilities and expand into new markets.
5. Series Unknown
   • Amount Raised: Not publicly disclosed
   • Date: September 2021
   • Lead Investors: Japan Energy Fund
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support ongoing growth and development initiatives.
6. Series C
   • Amount Raised: USD 127,600,000
   • Date: April 2022
   • Lead Investors: Blue Earth Capital, Volery Capital Partners
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand technology to more homes and increase international presence.

Total Amount Raised: USD 174,599,998. Current Valuation: Not publicly disclosed.

Key Investors

• Blue Earth Capital
  • Details: Blue Earth Capital is a global investment firm focused on sustainable and impact investments. They led the Series C funding round for Sense.
  • Investment Focus Areas: Sustainability, impact investments, clean energy.
  • Notable Investments: Not publicly disclosed.
• Volery Capital Partners
  • Details: Volery Capital Partners specializes in sustainable and impact investments. They were a lead investor in the Series C round for Sense.
  • Investment Focus Areas: Sustainability, impact investments, clean energy.
  • Notable Investments: Not publicly disclosed.
• Japan Energy Fund
  • Details: Japan Energy Fund is an investment firm likely focused on energy-related investments. They participated in an undisclosed funding round for Sense.
  • Investment Focus Areas: Energy, sustainability, clean technology.
  • Notable Investments: Not publicly disclosed.
• MacKinnon, Bennett & Company
  • Details: MacKinnon, Bennett & Company is an investment firm focusing on sustainable and impact investments. They led the second Series B round for Sense.
  • Investment Focus Areas: Sustainability, impact investments, clean energy.
  • Notable Investments: Not publicly disclosed.
• SE Ventures
  • Details: SE Ventures is an investment firm that focuses on energy and sustainability. They led the first Series B round for Sense.
  • Investment Focus Areas: Energy, sustainability, clean technology.
  • Notable Investments: Not publicly disclosed.

What's Next for Sense?

Sense is poised to capitalize on the growing demand for energy-efficient solutions. With plans to expand its technology to more homes and increase its international presence in Europe and Asia, the company is well-positioned to tap into new markets. The integration of their technology with new constructions and renewable energy sources like solar panels and batteries presents significant growth opportunities.

Given the substantial $105 million raised in their Series C round, future fundraising seems likely as Sense continues to scale. The company may also explore strategic acquisitions to enhance its offerings. However, challenges such as competition, regulatory hurdles, and the need to keep technology updated could pose obstacles. Nonetheless, the increasing interest in clean technology and energy management trends bodes well for Sense's future.

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