Energyworx secures 1 million euro series A funding from HenQ

Energyworx, a SaaS-based energy data management platform from Houten, today announced a 1 million euro series A investment led by Dutch VC HenQ.

The startup will leverage the new funding to accelerate growth and scale its US and European operations, including the opening of a new office in San Francisco.

The company helps energy and utility companies navigate and monetize the energy transition. And that's a necessity, as data is growing exponentially due to the rollout of smart meters, new grid sensors, and IoT.

According to new CEO Marcel Smit, Energyworx solves those two critical issues that companies "have been struggling with for years", he said in a press release.

Energyworx CEO

With the appointment of Smit comes a big load of experience. He is the former CEO of Mirror42, a performance analytics company acquired by ServiceNow in 2013, and the former CEO of Q-go, a natural language search company acquired by RightNow Technologies in 2011.

Energyworx was founded in 2012 by Edwin Poot. He first focussed on building the technology and platform and went to market in early 2014. He will focus on the company’s long-term product strategy.

"Our team and investing partners see Energyworx as an innovative leap in the energy transition, helping energy-related companies discover new business models and better monetize their data," said Herman Hintzen, executive partner at HenQ.

Image: Pixabay / Unsplash