Tuesday, October 19, 2010

Tendril Raises $23M, Buys GroundedPower

Boulder-based Tendril, a maker of energy management systems, said Tuesday that it has raised $23M in a funding, and acquired GroundedPower, a Massachusetts firm which develops energy management and efficiency software. Financial terms of the acquisition wer enot disclosed. The new funding round for Tendril comes from TIAA-CREF, along with its existing investors. Tendril said the funding goes for the GroundPower acquisition, as well as further development of its platform. Tendril has previously raised funding from Access Ventures, Appian Ventures, GE Energy, Good Energies, In-Q-Tel, RRE Ventures, VantagePoint Venture Partners and Vista Ventures. More information »