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BOSTON, MA - EnerNOC, Inc., the leading provider of
full-service demand response and energy management solutions,
announced today that it has secured over $7.75 million in
Series B funding. Foundation Capital of Menlo Park, CA, was
the lead investor in the round. First-round investors Draper
Fisher Jurvetson, Braemar Energy Ventures, and DFJ New England
also participated, bringing total investment in the company
to over $10 million.
The capital will be used to extend EnerNOC's market leadership,
support continued product and technology development, and
recruit additional talent to the team.
EnerNOC CEO Tim Healy stated, "This round of funding
will allow us to accelerate our market growth strategy while
continuing to deliver world-class demand response and energy
management solutions to our customers. Demand response offers
the most cost-effective and immediate solution to relieving
electricity market capacity constraints."
"EnerNOC has established an impressive track record
of performance in revenue growth, customer service, and technology
development. The company is well-positioned to capitalize
on demand response market opportunities," commented Adam
Grosser, General Partner of Foundation Capital. "We're
excited to be part of building the industry leader,"
added Adam.
Mr. Grosser will join EnerNOC's Board of Directors. With
a broad base of operational experience in Telecommunications
and Data Communications, Adam currently serves on the boards
of Oluma, Peribit Networks, Hammerhead Systems, Synfora, Arroyo
Video Solutions, Traverse Networks, Silver Spring Networks
and Precision I/O. In addition, he has previously served on
the boards of Alteon WebSystems (now part of Nortel Networks),
Skystream Networks and @Home Australia.
About EnerNOC:
EnerNOC, Inc. is the leading provider of demand response,
price response, and demand side management solutions to the
commercial and industrial markets in the United States. EnerNOC
delivers immediate, profitable results to customers by leveraging
its deep experience in all aspects of energy management, commercial
contracting, and embedded systems technology. For more information
visit www.enernoc.com.
About Foundation Capital:
Founded in 1995, Foundation Capital is a venture capital
firm committed to supporting entrepreneurs and their companies,
targeting innovative opportunities in telecommunications and
networking; Internet infrastructure; and enterprise software.
For more information visit www.foundationcapital.com.
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