GridPoint Raises $120 Million, Buys V2Green
GridPoint Inc., an Arlington, Va.-based smart-grid company, has raised $120 million in fifth-round funding. It also has acquired V2Green, a Seattle-based developer of plug-in electric vehicle grid integration technology. No financial terms of the acquisition were disclosed. GridPoint did not identify investors participating on the deal, which includes an initial $100 million calldown and the conversion of all outstanding shares into common stock. It did say, however, that most of the money came from prior backers, which include Goldman Sachs, New Enterprise Associates, Susquehanna Private Equity, Perella Weinberg Partners and Robeco. Gridpoint has now raised around $220 million in total VC funding.
23 September 2008•5 mins read
