Digital Lumens announced it has received a $10 million further commitment from investors. After a year of 150 percent growth in its number of customers and total energy savings, the company closed a $10 million round of funding from existing investors including Black Coral Capital, Flybridge Capital Partners, and Stata Ventures (Stata Venture Partners).
In 2012 the company reportedly had 500 large-scale installations of its Intelligent LED Lighting System, more than doubling the number reported last year, Digital Lumens boasts that the company’s systems now saving customers more than $25 million per year by reducing their combined annual energy consumption by over 250 million kWh. The cumulative energy savings represent a 150% increase over the April 2012 announcement that the company was saving over 100 million kWh per year for its 200 customers.
The company attributes the results and rapid growth to the savings that its LED lighting systems with intelligent controls offer. Digital Lumens claims that the systems provide 90% energy savings with half from the innate efficiency of LEDs and half from Digital Lumens’ patented integrated intelligence.