Natick Firm Secures $1.5M In Venture Funding
OutSmart Power Systems LLC, a Natick-based energy and equipment monitoring company, announced it has received $1.5 million in new venture capital funding to continue its product development and commercialization efforts.
The latest round of funding comes from a group of private venture investors, according to a statement by the company. OutSmart has now raised more than $9 million since it was founded in 2008.
OutSmart says its systems allow clients to monitor energy consumption and identify areas of waste at low cost.
Kevin Johnson, CEO and founder of the company, said he is "delighted" to have secured another round of funding.
"We believe our technology fills an important gap in energy efficiency and this financing will allow us to grow our customer base, expand distribution through strategic partners and further enhance the OutSmart technology," Johnson said.
WBJ Web Partners
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