Deals

Utilidata Raises $20M in Series B Funding
Date: 
Tuesday, December 10, 2013
Company: 
Location: 
Rhode Island
Deal Type: 
Funding

Utilidata, Inc., a leading supplier of voltage optimization and digital automation systems for the electric utility industry, today announced that it has secured more than $20 million in Series B financing. Formation 8 Partners and Saudi Aramco Energy Ventures (‘SAEV’) led the round and were joined by existing investors Braemar Energy Ventures and American Electric Power – one of the nation’s largest utilities. The funding will allow Utilidata to bring new advances and innovation related to digital automation, voltage optimization, and systems management to market, and further expands its presence in North America, Asia and the Middle East. Formation 8 founder Jim Kim will join Utilidata’s board of directors...READ MORE

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Utilidata®, Inc. is a global software company that works with electric utilities to enhance energy efficiency and grid security. The company’s patented technology captures real-time data from the grid giving utilities information needed to save energy, mitigate issues caused by distributed energy resources, and better detect grid anomalies. With major clients including American Electric Power, National Grid, and Pacific Gas and Electric Company, Utilidata is backed by leading venture capital firms and is expanding across North America and the Middle East. The company has a world-class production, research and development facility at its headquarters in Providence, RI. 

 

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Posted on: February 13, 2012