Thursday, July 15, 2010

Trilliant Takes Big $106M Round For Smart Metering Products

Redwood City-based Trilliant Incorporate, a developer of smart grid management software for the utility market, announced this morning that it has raised a big, $106M round of financing. The round was led by Investor Growth Capital and VantagePoint Venture Partners, and also included prior investors MissionPoint Capital and Zouk Ventures. The firm also said the financing included credit financing from ABB and GE, and was coordinated by Deutsche Bank. Trilliant said the new funding will go towards continued growth. Trilliant's smart grid software is sold to electrical utilities to manage their smart grid efforts, specifically for time-of-use billing. Those programs allow utilities to charge customers based on their usage at specific times of the day based on information from smart meters. More information »