07 May '12, 4pm

Tendril Raises $25M for Utility-Home Energy Software: Is Tendril ready to take its utility-to-home energy soft...

Is Tendril ready to take its utility-to-home energy software to commercial scale? On Friday, the startup closed a $25 million round to boost its home energy report software, perhaps as a precursor to fulfilling CEO Adrian Tuck’s promise last year of taking at least a few of the dozens of utilities it’s working with from pilot stage to full-blown deployment in the coming year. The new investment, part of a previously reported $13.7 million raise earlier this year, brings total VC cash raised by Tendril to about $100 million . Investors include VantagePoint Venture Partners, Good Energies, RRE Ventures, General Electric and Siemens -- the latter two being potential strategic partners, as well. As for how the startup plans to spend it, spokeswoman Sheila O’Neill told local newspaper the Daily Camera that the investment would be directed at developing Tendril’s home energy rep...

Full article: http://www.greentechmedia.com/articles/read/tendril-raise...

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