eMeter takes $32M to help utilities switch to smart meters
Summary
eMeter, maker of software that helps utilities integrate data channeled from new smart meters in residential and commercial areas, has brought in $32 million in a third round of funding to meet rising demand. It’s also landed deals with the likes of large Texan utility CenterPoint to provide data management software for more than 2 million new smart meters rolling out before 2013. Essentially, it’s anointed eMeter as one of the leading forces in the smart grid software space, a sector where it hasn’t invested much money previously. Of course, competition is pretty stiff in this area, with Google PowerMeter and Microsoft Hohm leading the pack of household energy consumption monitors. In light of this anticipated success, eMeter has already considered its potential to go public, claiming that it is definitely in the cards but probably not in the near future due to slow market conditions.