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Sense

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Home energy monitor that allows homeowners know what's on and how much energy each device uses in real-time

Cambridge, United StatesFounded 2013Energy

Valuation $500M–1B Last recorded · 2022

Revenue $10–50M Latest reported FY

Headcount 100–500 Current team size

Total funding $100–500M Disclosed equity funding

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About Sense

Sense was founded in 2013 by Mike Phillips, Christopher Micali, and Ryan Houlette. The founders, with their extensive experience in speech recognition technology, aimed to apply similar principles to energy consumption data. They believed that by making energy usage understandable and engaging, they could empower consumers to improve their energy efficiency and reduce their environmental impact.

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The company's main offering is the Sense Home Energy Monitor, a device that connects to a home's electrical panel. It provides real-time, detailed data on energy consumption, accessible through a mobile app. The monitor can identify individual appliances by analyzing their unique electrical signatures, allowing homeowners to track their energy usage with a high degree of accuracy. This helps users pinpoint energy-wasting devices and make informed decisions to lower their electricity bills.

Sense operates on a direct-to-consumer business model, selling its monitor through its website and various retail partners. The company also collaborates with utility companies and solar installers, integrating its technology into broader energy management solutions. By providing valuable data to both consumers and energy providers, Sense is positioning itself as a key player in the smart home and energy tech markets.

Source: Dealroom company data