Home energy monitoring firm Powerhouse Dynamics lands $1M

By Jackie Noblett

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Powerhouse Dynamics disclosed Thursday it has closed a round of funding from CommonAngels of Lexington, which it will use to produce and widely distribute its building energy management system. According to a filing with the U.S. Securities and Exchange Commission, the financing amounts to just over $1 million.

The Newton-based startup, led by CEO Martin Flusberg, said Powerhouse’s system, which monitors energy usage at the circuit level and provides recommendations and proactive alerts to reduce energy consumption, has been well received by early testers. The company makes what it calls the eMonitor Total Home Energy Management product, that allows a homeowner to monitor and manage all energy sources and uses in a household.

“This funding will allow us to ramp up production, now that we have begun shipping the product to dealers, and help us expand our dealer channel,” said Flusberg in a statement. “There is pent-up demand from dealers, as well as from consumers since the product was highlighted on the TV show Ask This Old House. Our biggest challenge right now is keeping up with the demand.”

The company also added to its executive leadership with the hiring of Gene Cornfield as vice president of marketing and business development and Ben Sprachman as vice president of engineering.

CommonAngels Managing Director Chris Sheehan joins the board of Powerhouse, along with Data General founder and former CEO Edson de Castro.

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