With a track-record of building billion dollar companies, Costello to lead Enlighted through period of hyper-growth as it brings the Internet of Things to the workplace.
Enlighted, the company bringing the Internet of Things to the workplace with its smart sensor network and lighting control, today announced that it has appointed former Cadence CEO, Joe Costello, as its chairman and CEO.
“I have known Joe for years and admire his strategic vision, connection to customers and extraordinary leadership,” said John Doerr, general partner at Kleiner Perkins Caufield & Byers. “I could not be more thrilled that Joe is leading Enlighted in the booming Internet of Things. Joe will accelerate the Enlighted team’s success serving the world’s leading tech-savvy and energy conscious companies.”
Costello was the CEO of Cadence Design Systems from its inception until it became the largest electronic design automation (EDA) company in the world with over a billion dollars in annual revenue. In recognition of his service, Costello was awarded the Phil Kaufman award, the highest accolade in the EDA industry, in 2004. Costello has also served on the board of directors of dozens of companies, including Oracle, Macromedia, Clarify and Mercury Interactive.
Costello joins Enlighted on the heels of its best quarter in the company’s history. Enlighted’s technology has now been deployed in more than 45 million square feet of office space — of which 11 million square feet was installed during the second quarter of this year.
Enlighted provides people-smart energy efficiency solutions for commercial environments based on its innovative Enlighted sensor and analytics platform. The Enlighted system securely and anonymously collects and mines unique environmental, occupancy and activity data.
The first application delivered on the Enlighted platform is the best lighting control system in the market. Enlighted will soon be releasing applications for HVAC optimization, facility management, property management and employee productivity — and this is only the beginning.
Enlighted customers include several brand name companies, including some of the most innovative organizations in the world, including LinkedIn, Google, AT&T, Barclays and Genentech.
“The Enlighted team has developed phenomenal technology and an impressive roster of customers,” said Costello. “The company has shown the commercial real estate market a vastly better way to reduce energy costs and improve workplace productivity using smart sensors and data analytics for advanced lighting control. What customers are finding now is that the Enlighted sensor network essentially gives their buildings brains that can be used for a wide range of applications. Things are about to get really interesting in the workplace.”