Tuesday, September 18, 2012

Silver Spring Networks Gets $12M From Foundation Capital

Redwood City-based Silver Spring Networks is raising $12M more in a funding round, according to an updated S-1 from the company. The firm, which is in IPO registration, said that Foundation Capital, its largest shareholder, will buy the shares in conjunction with its IPO, as a private placement. Foundation Capital is the company's largest backer. Silver Spring Networks is a maker of smart grid equipment and technology, and filed for its IPO in July of 2011.