SimpTek Technologies Raises Over $700,000 in Funding to Expand in North America
FREDERICTON – SimpTek Technologies, a software company providing intelligent energy management solutions for homeowners and utilities, has raised over $700,000 in funding.
Led by the New Brunswick Innovation Foundation and several angel investors, this funding will help the company pursue new business opportunities and expand into new markets. It will also help expand SimpTek’s technical, sales and marketing capacity and prepare it for growth across Canada and the United States.
Founded in 2014, SimpTek has completed the first phase of its pilot program with NB Power. Next year, SimpTek will be starting pilots with various utility companies across North America.
“We’ve been extremely pleased with the results of our pilot programs to date and the positive feedback from the consumers and the utilities,” said SimpTek’s CEO and co-founder Asif Hasan in a release. “We are excited to build upon our success to date and to expand the team with the financial support from these investors. We want to thank them for their confidence in our company and state publicly our commitment to deliver on the promises we’ve made to build this business.”
To prepare for the market expansion in Canada and into the United States, SimpTek is hiring for a number of new positions in the technical and marketing teams.