SensorSuite secures financing from Greensoil Building Innovation Fund

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By Ted Liu

SensorSuite Inc. has raised undisclosed amount in a second round of venture capital financing from Greensoil Building Innovation Fund, a growth equity fund investing in companies that provide products, services and technologies which make real estate and infrastructure more productive, efficient and sustainable.

In April 2015, SensorSuite raised $550,000 from Extreme Venture Partners, BDC Capital, and angel investors.

Jamie James, Managing Partner of Greensoil Building Innovation Fund will join SensorSuite board of directors.

Founded in 2012, Mississauga, Ontario based SensorSuite is an Internet of Things (IoT) company that develops and sells innovative wireless monitoring and energy saving solutions for commercial and residential buildings.

Greensoil Building Innovation Fund investment will provide capital as well as opportunities to leverage Greensoil’s broad real estate network to expand and accelerate the deployment of SensorSuite systems.

“As asset managers face rising energy prices and challenges associated with older buildings, the need for systems that are smart enough to save money without human intervention and reduce operational risks have become an important part of their strategy,” said SensorSuite founder and CEO, Robert Platek. “SensorSuite empowers property owners with scalable digital building solutions to address their sustainability needs now and in the future.”

“After following SensorSuite’s progress in the market for some time, our team is pleased to launch this formal partnership that will help our investors and affiliates improve the management of their assets using SensorSuite’s best-in-class wireless technology,” said James. “The smart building technology market is evolving quickly, and we are confident that SensorSuite has the expertise, solutions – and now the capital – to deliver cost effective solutions to asset managers, particularly in the high-rise residential market in the near term.”

photo credit: SensorSuite