$1M for Powerhouse Dynamics
Wade Roush2/4/10
Powerhouse Dynamics, a home energy usage monitoring startup in Newton, MA, raised $225,000 last spring and let slip to journalists in November that it was raising more. Now there’s confirmation of that: the company has closed a $1.02 million financing round, according to a February 2 regulatory filing. According to a Powerhouse announcement, The round was led by Lexington, MA-based CommonAngels, whose managing director, Chris Sheehan, has joined the board. Also joining the board is Data General founder Edson de Castro, and the company has hired sales veteran Gene Cornfield as vice president of marketing and business development and longtime engineering and manufacturing executive Ben Sprachman as vice president of engineering.
Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.
