Software company Bidgely gains an additional US$5 million in funding, bringing up its total financing to US$8 million. The round was led by investor Khosla Ventures. Earnings from the round will be utilized to supply the increased customer demand and expand the company's team of engineers.

"Our vision is to put Bidgely in every home in the world," stated Bidgely Chief Executive Officer and founder Abhay Gupta. "Our early adopters are fascinated by the insights we're providing them, and we've only just scratched the surface. This financing is a great vote of confidence by our investors in the progress made by our team and in our technology, and we're excited to expand our offering and reach a broader market."

Founded in 2011, Bidgely is a Sunnyvale, California-based company that specialises in energy disaggregation technology that has revolutionized energy utilization and saving.

Bidgely is a novel, state-of-the-art software technology that analyzes utility meter data to give customers an accurate, up-to-date description of the amount and cost of energy consumed by their home appliances. It is the first of its kind to accomplish this without the need fo installation of plug-level hardware sensors, resulting to a cost-effective and user-friendly application. Its personalized savings suggestions could save the average family massive residential energy expenses.