eMeter Corporation, a company developing Smart Grid management software, announced the close of a $12.5 million round of private financing led by longtime investors Sequoia Capital and Foundation Capital, and joined by new investor Northgate Capital.
eMeter will use the new funding to expand the company’s sales and marketing efforts in key markets, enhance services to current customers and continue investing in new products.
Since the last round of funding almost a year ago, the company has hired enterprise software veteran Gary Bloom as CEO, while continuing to work with leading technology partners, such as IBM, Intergraph, SAP and Siemens, and signing new utility customers including Bluebonnet Electric Cooperative, Burbank Water and Power, Centerpoint Energy, Silicon Valley Power, Westar Energy, Central Vermont Power and Wabash Energy.
Internationally, eMeter inked deals with UK-based Electralink, Ontario, Canada’s Independent Electricity System Operator, Germany’s EnBW Ostwurttemberg Donau Ries AG and Umetriq, and Vattenfall AB, Europe’s fourth largest generator of electricity and the largest producer of heat, and is responsible for over 6 million utility customers across Finland, Sweden, Germany, Poland and the Netherlands.
The Wall Street Journal recently recognized the company as one of the top 10 venture-backed clean technology companies.
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