EcoSense Lighting Closes $15M Financing Round Amidst Rapid Growth

EcoSense Lighting Closes $15M Financing Round Amidst Rapid Growth

November 5, 2013

New York, NY, November 5, 2013 - EcoSense Lighting®, a fast-growing manufacturer of highperformance white LED luminaires, announced it has closed a $15 million funding round with a significant investment from Flagship Ventures, as well as a follow-on investment from Bain Capital Ventures. This investment will be used to accelerate new product introductions, enhance R&D capabilities and ensure our operations infrastructure exceeds the rising demands of our customers.

EcoSense has established a leadership position in the LED luminaire market, specifically recognized for products with high color quality and color consistency. Its specification-grade products have been deployed in thousands of locations around the world including coveted retail locations such as Burberry stores, marquee buildings such as the historic Science Museum in London and at Tesla Motors to illuminate work stations and show floors.

Since the last round of funding, EcoSense has added significant horsepower to its already accomplished leadership team with the additions of Mark Reynoso as CEO, Paul Pickard as CTO and Christina Loh as COO. These additions will enable the company to scale and drive innovation in LED technology.

“We are impressed with the contributions EcoSense is making to the evolving LED market,” says Ed Kania, Managing Partner and Chairman of Flagship Ventures. “EcoSense has a strong leadership team and a compelling strategy. We are eager to support their aggressive growth efforts.”

Mark Reynoso, CEO of EcoSense Lighting, says, “The light that is designed into a physical space has a huge impact on the human experience. We are proud that some of the most prestigious brands in the world including BMW, Whole Foods and the Ritz Carlton are entrusting us to help curate those environments.” He adds, “Bain Capital Ventures and Flagship Ventures have a well proven history of nurturing young companies to great success and I am excited to have their wisdom and guidance on our Board.”

About EcoSense Lighting

Founded by a team of long-serving industry experts with proven know-how in the development and best practices of solid-state illumination, EcoSense Lighting provides best-in-class LED lighting solutions for use in architectural applications. The company offers a comprehensive line of high-performance LED fixtures that meet the technical requirements of the most demanding projects while delivering substantial benefits over traditional lighting sources. EcoSense Lighting was established in 2008 and is privately held. For additional information, visit www.ecosenselighting.com.

About Flagship Ventures

Realizing entrepreneurial innovation is the mission of Flagship Ventures. The firm operates through two synergistic units: VentureLabs which invents and launches transformative companies, and Venture Capital, which finances and realizes innovative, early-stage companies. Founded in 2000, and based in Cambridge, Mass., Flagship Ventures manages over $900 million in capital. Several examples of successful companies include Joule Unlimited, Acceleron Pharma, Accuri Cytometers, AVEO and Adnexus. The Flagship team innovates and invests in three principal business sectors: therapeutics, medical technologies, and sustainability/clean technology. For more information, visit www.flagshipventures.com.

About Bain Capital Ventures

Bain Capital Ventures is the venture arm within Bain Capital, which has approximately $66 billion of assets under management worldwide. The firm's history of investing in early stage companies dates back to 1984 with over 125 venture investments since inception. Bain Capital Ventures manages $2.0 billion of assets, has over 70 active portfolio companies, and has offices in Boston, New York, and Palo Alto. The firm has helped steer many ideas to success by working in partnership with management teams, pairing talented and passionate entrepreneurs with industry experts, opening doors to customers, and collaborating on long-term strategies. For more information, please visit www.baincapitalventures.com.