Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact email@example.com.
SOURCE Panoramic Power Ltd.
NEW YORK, October 21, 2013 /PRNewswire/ --
Panoramic Power, the leading provider of circuit level energy management solutions, today announced that the company has closed its series B round of financing, totaling $8 million. The round was led by NYC-based Marker LLC as well as existing investors including Greylock IL, Qualcomm and ICV.
Panoramic Power provides a high-granularity cloud-based energy management solution. By harnessing big data analytics, coupled with circuit-level visibility into energy consumption, Panoramic Power allows companies across a wide range of industries to gain insight into their energy usage - enabling the optimization of operations, processes and maintenance resources. The latest financing will be used to expand the company's sales, marketing and business development efforts to drive partnerships, awareness and new customers. The funds will also be used to accelerate product development in order to keep up with rising customer demand.
"We are very excited to continue working with our existing investors and welcome the opportunity to work with Marker LLC as we aggressively expand operations and build on our success in a growing market," said Yaniv Vardi, CEO at Panoramic Power. "This additional funding is a great vote of confidence in Panoramic Power's vision of how companies can leverage their energy usage as a strategic business asset and improve profitability and operational efficiency with our set of services."
Richard Scanlon, Managing Partner of Marker LLC, stated, "Today, many best-in-class companies are improving their top line revenue growth and protecting bottom line cost savings by managing energy costs and improving sustainability. Panoramic Power's granular level energy management platform meets a pressing need of enterprises to optimize energy consumption and improve operational efficiency. We are thrilled about the company's accomplishments to date and are confident in its unique ability to capitalize on the global opportunity at hand."
About Panoramic Power
Panoramic Power, founded in 2009 by Dr. David Almagor and Adi Shamir, is the leading provider of circuit level energy management solutions - enabling businesses to optimize their energy consumption, improve operational efficiency and generate income through load response programs. Using its innovative and affordable circuit-level cloud-base analytics solution, companies across a wide range of retail and commercial industries gain insight into their energy usage and are able to optimize operations, processes and maintenance resources.
For more information, visit http://www.panpwr.com
About Marker LLC
Marker LLC is private investment firm with an exceptional track record and a global perspective. Our mission is to help promising companies develop into great companies and great companies into enduring market leaders. Since 2003, our founding partners have helped businesses around the world in a wide variety of sectors achieve remarkable success. Our unconventional business model ensures maximum flexibility, commitment and alignment of interests. http://www.marker-llc.com/
©2012 PR Newswire. All Rights Reserved.