Friday, February 24, 2012

Recurve Acquired By Tendril

San Francisco-based Recurve, the developer of a cloud-based, residential energy auditing service, has been acquired by smart grid firm Tendril. Financial terms of the acquisition were not disclosed. Tendril said the asset acquisition included specific intellectual property of Recurve, plus Recurve's current employees. Recurve had been venture backed by Lowe's Companies, Rockport Capital Partners, and Shasta Ventures. Tendril is venture backed by VantagePoint Capital Partners, Siemens Venture Capital (SVC), Good Energies, RRE Ventures and GE. Recurve CEO Andy Leventhal joins Tendril's management team with the buy.