Tantalus closes $14 Million Round to Deliver Smart Grid Technology to Utilities

Posted by Rob Lewis

Burnaby's Tantalus Systems announced today that it has raised $14 Million in equity to fund its ongoing penetration of energy efficiency solutions into co-op and municipal utilities. The financing was led by Redpoint Ventures and included several current investors in the company.

Tantalus’ wireless communications technology provides utilities with greater control over their power grid by automating processes like outage detection, load forecasting, billing and reporting, demand response, and maintenance. The net result is operational efficiency for the utility and greater service reliability for the consumer.

Tantalus counts more than 30 utilities among its customer base, several of which were recently awarded stimulus grants from the U.S. Department of Energy. With this funding, Tantalus will be able to capitalize on its current market traction and expand its customer base with larger, faster deployments.

Company:
Tantalus Systems
Website:
http://www.tantalus.com
Location:
Burnaby, British Columbia, Canada

Tantalus provides Smart Grid communications technology that enables electric, gas & water utilities to optimize the use resources by automating monitoring & control processes, improving operational efficiency, and delivering the information utilities and consumers need to manage energy intelligently and cost-effectively. TUNet® – the Tantalus Utility Network – is deployed at utilities throughout North America... more

Company:
Redpoint Ventures
Website:
http://www.redpoint.com
Location:
Menlo Park, California, United States

We founded Redpoint with a single vision. Partner with exceptional entrepreneurs to help build companies that define industries and shape the future. This kind of bold undertaking does not come easy and as partners in this process, we bring more than just capital. With over 100 collective years of experience and over $2 billion under management—including 34 IPOs and 54 upside acquisitions—we know what it takes to... more


blog comments powered by Disqus

Rob Lewis

Rob Lewis

Rob is the President of Techvibes Media and Editor-in-Chief of Techvibes.com.  His diverse background includes stints in International Trade Finance, Web Development, and Enterprise Software and he is a graduate of the University of British Columbia, British Columbia Institute of Technology, and Simon Fraser University. When not running Canada's leading technology media property, Rob can be... more



Who's Hiring



Recent Comments

Powered by Disqus