ARLINGTON, VA - GrindPoint Inc., which sells smart grid software and services, has raised $23.6 million in new funding, according to a regulatory filing. The company has raised $229 million over five rounds since 2006.
Investors in the company include Goldman Sachs, New Enterprise Associates, Susquehanna Private Equity, Perella Weinberg Partners, and Robeco.
Principals listed in the filing with the US Securities and Exchange Commission disclosing the new funding, in addition to company executives include:
J. Roderick Heller, Carnton Capital Associates, Washington, D.C.; Jeffrey Berman, Greenhouse Schools project, London; Robert Mancini, Cogentrix Energy, Inc., Charlotte, NC; Tom Soto, Craton Equity Partners, Los Angeles; Jacob Worenklein, US Power Generating Company, New York, Larry M. Kellerman, Goldman Sachs; Stephen Lehner Morgan Stanley; David W. Mohler, CTO, Duke Energy; Joseph M. Perta, Advanced Software Systems Inc., Sterling, VA; Paul J. Powers, Jr., partner, Satterlee Stephens Burke & Burke, NY; George P. Stamas, Kirkland & Ellis, Washington, D.C.; and Eric C. Taubenheim, Susquehanna Private Equity Investments, NY.
GridPoint is working with several utilities including Duke Energy and Xcel Energy, which has selected the GridPoint Platform for its $100 million SmartGridCity initiative in Boulder, Colorado.
The platform applies information technology to the electric grid to provide utilities with an intelligent network of distributed energy resources that controls load, stores energy and produces power.
It offers utilities a single interface, located in a utility’s control room, for managing a variety of distributed energy assets including plug-in electric vehicles, solar panels, wind turbines, advanced storage technologies and household devices such as thermostats, electric water heaters, pool pumps, and so on.