eMeter Smart Grid Software Company Raises $12.5 Million

July 12, 2010 | 06:00
eMeter Smart Grid Software Company Raises $12.5 Million
eMeter Smart Grid Software Company Raises $12.5 Million
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 OPOWERSilver 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 Energyon results of the PowerCents DC Program, which used the company’s products to test different pricing models for consumer energy consumption.

About eMeter
eMeter provides essential software that enables electric, gas and water utilities to realize the full benefits of Smart Grid. Leading utilities worldwide depend on eMeter Smart Grid Management software to reduce operational costs, improve customer service, and drive energy efficiency. With the most large-scale deployments in the industry and strategic partnerships with Accenture, IBM, Logica, and Siemens, eMeter has built a reputation for expertise.

Original post on TechCrunch
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