eMeter Corporation, which makes energy management software, announced it has completed a $12.5 million funding round led by Siemens Corporation (NYSE:SI) and joined by existing investors, Foundation Capital, and DBL Investors.
With 20 million meters under contract, eMeter Corporation of San Mateo, California, provides meter data management (MDM) software that enables electric, gas, and water utilities to benefit from of advanced metering and smart grid initiatives.
"eMeter is the leading provider of MDM software and has a product (EnergyIPtm) with a modern architecture, proven scalability, and leading functionality that enables utility customers to remain AMI vendor neutral," said Ralf Christian, CEO of the Power Distribution Division, Siemens Sector Energy. "Coupling this technology with our global sales coverage will provide utilities with a reliable cornerstone for their SmartGrid investments."
EnergyIP is a Meter Data Management System with three major elements. It begins with a full suite of Meter Data Management functions to allow timely and accurate data collection and management, complete with all of the necessary processes to prepare data for billing. EnergyIP includes an Integration Platform that can link various advanced meter (AMI) systems to diverse utility information systems including delivering new Smart Grid functionality for managing electric distribution networks. The third feature of EnergyIP is production-oriented Business Process Management Tools for AMI implementation, operations, and maintenance.
"This new capital will allow us to invest in our core software and infrastructure and pursue potential strategic initiatives, without compromising our meter product independence," said Cree Edwards, CEO and Founder of eMeter. "This independence ensures that our utility customers can buy whatever AMI technology they desire – a key need in the rapidly evolving Smart Grid market."
About eMeter Corporation
EnergyIP, eMeter’s premier software platform, is a Meter Data Management System that offers a full suite of Meter Data Management functionality, an Integration Platform for linking a variety of AMI systems to a variety of utility information systems, and Business Process Management Tools specializing in AMI implementation, operations, and maintenance. eMeter’s experienced professional services team is available to plan, install, and configure the EnergyIP software, as well as provide strategic consulting services related to meter data management, advanced metering, and demand response.
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