Smart Grid management software producer eMeter announced a $12.5 million Series F round of funding today. The investment comes from Sequoia Capital and Foundation Capital, who have both invested in the company previously, along with Northgate Capital.
The company was founded in 1999 and has raised nearly $70 million in funding. eMeter works with more than a dozen electric, gas and water utility companies which use it to provide detailed usage data to their customers. eMeter is not new to the space and other companies like OPOWER, Silver Spring Networks and Google are also working to secure similar utility company deals.
eMeter will use the funding for sales and marketing, service improvements and new product development. The company recently briefed the White House and Department of Energy on results of the PowerCents DC Program, which used the company’s products to test different pricing models for consumer energy consumption.
eMeter Corporation delivers energy information management solutions for the utility mass market, and commercial and industrial deployment. The company provides software that enables electric, gas, and water utilities to realize the benefits of their advanced metering and smart grid initiatives. It offers EnergyIP, an enterprise meter data management software platform; an Integration Platform for linking various advanced metering information (AMI) systems to multiple utility information systems; and Business Process Management Tools specializing in AMI implementation, operations, and maintenance, as...
Sequoia Capital is a venture capital firm founded by Don Valentine in 1972. The Wall Street Journal has called Sequoia Capital “one of the highest-caliber venture firms” and noted that it is “one of Silicon Valley’s most influential venture-capital firms”. It invests between $100,000 and $1 million in seed stage, between $1 million and $10 million in early stage, and between $10 million and $100 million in growth stage. The firm has offices in the U.S., China, India and...
Foundation Capital is an investment firm run primarily by entrepreneurs. Each partner left a successful career in industry to work in venture capital in order to work with other entrepreneurs to build great new companies. They have backed successful entrepreneurs across various sectors — from enterprise software to clean technology to consumer Internet and fabless semiconductors. Typically, Foundation makes an initial investment of $1 to $10 million and follow that by participating in each subsequent round of financing. As...
For decades, some of the largest and most sophisticated institutional and family investors have relied upon alternative asset investments to diversify their holdings and enhance their financial returns. Not satisfied with being limited to publicly traded stocks, bonds, and real estate opportunities, these investors have allocated a significant portion of their portfolios to investment managers who specialize in alternative asset classes like venture capital, private leveraged buyouts and growth capital, hedge fund strategies, and private real estate investments. As the...
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