|Description||Building, equipment, network management|
|Seed, 5/2009 |
Bainco International Investors
Clean Energy Venture Group
|Partial Close, 5/2010 ||$200k|
|Series B, 12/2012 ||$1.5M|
|Series A, 10/2013 ||$3.6M|
|Debt, 10/2010 ||$805k|
|Debt, 4/2011 ||$2.61M|
OutSmart is developing a network, consisting of hardware and software, that monitors energy usage, building occupancy, and other activities in commercial properties. The network includes nodes designed for installation in electrical breakers, outlets, and switches. The nodes are equipped with electronics that calculate electricity consumption and use existing wires in a building to feed that information into a controller. The controllers are linked to servers, where the information can be accessed and viewed over the Internet.
The company also plans to sell sensors that connect with the existing electrical infrastructure in buildings to detect motion, temperature, and other conditions. What this all amounts to is a network that allows, say, a property manager view a Web-based interface to monitor the energy usage and other variables in each room of a commercial property.
OutSmart is the latest company launched by Manifold, a firm that spins off tech startups to commercialize products developed by outside inventors and its own engineers. OutSmart is based on technology that Manifold began to develop internally in 2006, says Kevin Johnson, CEO of OutSmart and a founder of Manifold.