Verdigris raises USD9m to bring IOT to commercial facilities

Verdigris has raised USD9m in financing, the company said.

The recent funding which completed in December 2015 includes Jabil Circuit, Stanford-StartX Fund, Capital, Data Collective and angel investors.

Accelerated at StartX and, Verdigris combines proprietary hardware, artificial intelligence, and software applications to deliver real-time recommendations for boosting the operational and energy efficiency of commercial buildings.

In the past six months, Verdigris has achieved increased traction in hospitality, manufacturing and commercial property verticals, with 5x growth in the number of subscribing customers, and 75 percent of budget-qualified pilot customers converting to paying contracts.

Verdigris´s suite of applications let facility and operations teams move beyond “firefighting,” so they can proactively improve operational outcomes. Once attached to a facility´s electrical panel, Verdigris smart sensors sample at extremely high frequency, every hour gathering hundreds of millions more data points than a utility smart meter. Verdigris transforms this information into a “virtual physical data layer,” from which it derives intelligent energy forecasts, motor fault sensor streams, and device level energy information.

Verdigris is a responsive energy intelligence platform for commercial facilities that learns from buildings to deliver unique, actionable insights that improve operational efficiency. Verdigris is located in Silicon Valley at the NASA Ames Research Park at Moffett Field.