Boulder-based Tendril gains $20M to bring smart energy into the home

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Boulder-based Tendril has pulled in $20 million from solar panel manufacturer SunPower to develop new applications to bring smart energy to consumers. The cloud-based software platform helps understand energy services needs by providing data and infrastructure to suppliers for individual homes.

 

"We've spent the past decade developing the only flexible enterprise-class software platform that can deliver an accurate understanding of the energy consumer on an individual basis," said Tendril CEO Adrian Tuck said in a statement. "Our partnership with SunPower will extend that understanding to include solar, increase engagement and value to energy consumers, and allow SunPower and our utility partners to better serve their customer base with even more personalized programs and services."

 

Part of the agreement allows SunPower to license Tendril's Energy Services Management (ESM) platform software. This allows a marriage of SunPower's solar technology with Tendril's current and future offerings.

 

"Consumers want even more flexibility to tailor their energy supply and usage to fit their lifestyles, beliefs and financial goals," said Tom Werner, SunPower president and CEO. "We know that in order to deliver customized offers and choices to customers, we have to first understand individual consumer needs."

 

Current investors include RRE Ventures, VantagePoint Capital Partners, Bregal, Siemens and General Electric Co.