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.