Redwood City, Calif., July 15, 2010 – Trilliant Inc. closed financing totaling $106 million from a global syndicate of industry and financial leaders.
The financing round was led by two financial investors, Investor Growth Capital (the wholly-owned venture arm of Investor AB of Sweden) and VantagePoint Venture Partners and two global grid-related equipment companies, ABB and GE.
The financing, which was coordinated by Deutsche Bank, also includes a credit facility from a major venture credit provider as well as continuing financial support from existing investors MissionPoint Capital Partners and Zouk Ventures. The new investment will be used to finance Trilliant‘s continued growth in North America and globally.
“Our new investors represent some of the largest and most trusted companies in the utility industry,” according to Andy White, president and CEO of Trilliant. “Their combined industry experience, financial strength, and global footprint will provide us with the resources to expand our smart grid solutions across North America and to a global marketplace.”
Trilliant provides utilities around the world with comprehensive, secure, standards-based, and real-time smart grid communication network solutions.
Trilliant has more than 200 utility customers, including Hydro One in Ontario, Canada. Hydro One has deployed Trilliant smart communications to more than 1.1 million customers.