Thursday, October 14, 2010

Redwood Systems Scores $15M

Fremont-based Redwood Systems, a developer of network-based, lighting, power, and control systems used for energy management, said Wednesday that it has raised $15M in a Series B funding round. The round was led by Index Ventures, and also included Battery Ventures and U.S. Venture Partners. As part of the funding, Neil Rimer of Index will join the company's board. Redwood said the new funds will go towards its technology, growing its footprint in the market, for sales channels, and to expand internationally. More information »