Cambridge Innovations Invests in EnerAllies™
CI announces focus on IoT with its first investment in the industry’s only software-centric IoT platform that transforms multi-site enterprises into smart, automated facilities
Cambridge, MA, August 02, 2016 – Cambridge Innovations (CI), subsidiary of Cambridge Technology (NSE: CT; BSE: 532801), a technology services leader focused on the convergence of big data and cloud, today announced an investment in EnerAllies™, a leader in the transformation to smart, automated facilities for multi-site, small-box enterprises – an under-served market with a $10B+ global market opportunity.
Cambridge Innovations is committed to investing in industry disruptors that leverage capabilities in big data, cloud and the Internet of Things (IoT). EnerAllies is a Silicon Valley-based technology company that is partnering with CI to reach the next level of growth and meet increasing customer demand in the retail and restaurant chain sectors. EnerAllies’ software-centric Internet of Things platform remotely controls and manages HVAC systems to reduce energy and repair costs and optimize clientele comfort. The company’s patented software platform eliminates costly and complex hardware giving the company a low-cost leadership position. This translates into breakthrough customer economics such as 2x payback within the first year.
Commenting on the recent investment, Aashish Kalra, Chairman of Cambridge Technology said, “The Internet of Things is expected to deliver $11 trillion in economic value by 20251. Although CI remains focused on investing in transformative businesses, with this investment, we are foraying into IoT as one of the verticals. EnerAllies has proven its ability to deliver concrete return on investments for its clients by combining the right technology with a cutting- edge business model. We look forward to helping the company accelerate its growth and expansion.”
“Cambridge Innovations is a trusted strategic partner that has the agility and expertise to quickly enhance our offerings across a number of areas”, said Rob Keil, CEO and Co-founder of EnerAllies. “We have reached an inflection point in our customer traction and by utilizing CI’s cloud, big data and IoT resources we can accelerate time to market for enhancing our automation and predictive capabilities.”
1 McKinsey Global Institute. (2015). The Internet of Things: Mapping the Value Beyond the Hype. Retrieved from http://www.mckinsey.com/mgi/overview
About Cambridge Technology :
Cambridge Technology (CT) is an IT services leader focused on the convergence of big data and cloud. Recognized as a thought leader and innovator of enterprise solutions, CT focuses on cloud application development and management, data warehousing, business intelligence (BI) and analytics on the cloud. Through designing and implementing enterprise IT strategies that leverage the cloud’s capabilities, CT’s end-to-end services enable its customers to harness the data available to them. Its expertise across domains makes CT a preferred choice for IT Strategy and Implementation to its customers. For more information, visit www.ctepl.com or follow @cam_technology on twitter.
About Cambridge Innovations:
For early and growth-stage entrepreneurs seeking rapid growth, Cambridge Innovations provides capital and resources to reduce technology risk. Founded by experienced entrepreneurs, CI partners closely with entrepreneurs, reducing capital risk and accelerating the technology roadmap. With some of the world’s most experienced strategy and development teams, entrepreneurs gain more time to shape and sell their vision and get to a better Series A faster. Learn more at www.c7e.io.
EnerAllies is leading the transformation to the smart, automated facility for multi-site enterprises such as retail and restaurant chains. The company utilizes a software-centric Internet of Things platform to remotely control and manage HVAC systems. The solution reduces energy and maintenance costs and optimizes clientele comfort via cloud software and machine learning. EnerAllies’ patented software platform eliminates costly and complex hardware giving the company a low-cost leadership position. The streamlined application and subscription business model translates into uniquely compelling customer economics such as 2x payback within the first year. The company partners with leading brands including Panera, Dunkin’ Donuts and Qdoba Mexican Grill. Learn more at: www.enerallies.com.