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Venture Capital News: Silver Spring Networks Secures $30M

2012-03-02
REDWOOD CITY, CA, Firm provides the hardware, software and services that connect every device on the smart grid. According to published reports, the investment was raised from Hitachi.
Silver Spring Networks has raised $30 million, according to a filing with the Securities and Exchange Commission. A single investor participated in the offering.

Silver Spring connects utilities with their customers and transforms the delivery of smart grid services while improving energy efficiency, empowering customers and ensuring reliable delivery of low-cost services. The firm provides the hardware, software and services that connect every device on the smart grid, creating a unified Smart Energy Platform. Over this unified platform, smart utility networks can deploy any number of advanced applications, such as Smart Metering, Demand Response, Distribution Automation and Distributed Generation. Smart Utility Networks can also allow devices such as meters, load management controllers and electric vehicle charging stations to communicate with each other and the utility.
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