Energy Management Startup PhoenixET Secures $12 Million

PhoenixET announced it closed $12 million in financing led by Deerfield Capital.

Founded in 2004, Phoenix Energy Technologies (PhoenixET) is a leading provider of enterprise energy management software and services, working with customers to diagnose opportunities and implement strategies that reduce energy consumption and costs. Through real-time measurement and verification, PhoenixET helps its customers gain greater visibility to energy data across their building portfolios and turns data into cost-saving action. It works with some of the most recognized names in retail, as well as university and commercial customers in the U.S. and Canada.

PhoenixET intends to use the funds to expand its breadth of product offerings across healthcare, nuclear and solar energy, semiconductor processing, industrial imaging, and defense.