Tuesday, December 15, 2009

Silver Spring Networks Gets $100M For Smart Grid Products

Redwood City-based Silver Spring Networks announced this morning that it has closed on a $100M, preferred equity funding round. Silver Springs, which develops smart grid products for the electric utility market, said the funding included existing investors Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers, and Northgate Capital. The company said the new funding will go towards developing new smart grid applications, job growth, and expansion of its global footprint. More information »