Silver Spring Networks Announces $100 Million Financing
December 16, 2009
Written by Editor, in Green Investments, Green News, Smart Grid
According to the Press Release, “Silver Spring Networks, a leading Smart Grid solutions provider, today announced the closing of a $100 million preferred equity round. The financing will be used for development of new smart grid applications, job growth and the continued expansion of Silver Spring’s global footprint.
“We have a terrific opportunity to accelerate the development and deployment of next generation smart grid initiatives,” said Warren Jenson, Chief Financial Officer of Silver Spring Networks. “At a time when world leaders have gathered in Copenhagen, we’re honored to be partnering with some of the most progressive utilities in the world to address energy efficiency by building out the smart grid. We are pleased to have a great set of investors that share our vision.”
The investment round was led by institutional investors and included existing investors Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital.”
Source: Press Release
