View Raises $100 Million Financing from Madrone Capital Partners
•Largest Financing in Company History Will Help View Scale Its Dynamic Glass Business
•Thomas Patterson of Madrone Capital Partners Has Joined View's Board of Directors
MILPITAS, Calif., January 7, 2014-- View, the leader in dynamic glass, today announced a $100 million investment from Madrone Capital Partners. The investment will enable the company to extend its market leadership and meet increasing demand for View Dynamic Glass. Madrone Capital Partners is a Menlo Park, California-based firm specializing in growth capital investments. Thomas Patterson, co-founder and general partner of Madrone Capital Partners, has joined View’s board of directors.
“This investment from one of the premier private equity firms signals a huge leap forward for View. The scale of this investment and the backing from a firm with the financial strength of Madrone represents a strong endorsement of our progress and the future opportunity,” said Dr. Rao Mulpuri, CEO of View. “As our project pipeline continues to grow, this investment will enable us to accelerate our growth, expand our market presence, and continue to serve our broadening customer base. We are grateful for the trust Madrone is placing in us, and we welcome Tom to our board of directors.”
Since launching the first large-scale commercialization of dynamic glass in November 2012, View has installed more than 50 projects at corporate campuses, educational institutions, government buildings, hotels and hospitals across North America.
“We have been closely following View for the past few years, and we are impressed by Rao and the View team’s tremendous progress. This investment represents a high growth opportunity, enabled by a game-changing product in a very large market,” said Patterson. “At Madrone, we invest with a long-term perspective. After thoughtful product development and scaling of operations, View is now poised to make broad impact in the industry. The combination of strong leadership and differentiated technology position View to realize the sizeable market opportunity.”
Representing a major innovation in architectural windows, View Dynamic Glass intelligently regulates the amount of heat and glare that enters a building, creating new possibilities in architectural design and user experience. View Dynamic Glass intelligently ascertains its unique position, orientation and condition, and automatically adjusts its tint in response to environmental conditions. Occupants can also manually control using apps on smartphones and tablets or by wall switches. This eliminates the need for blinds or shades and empowers occupants to enjoy continuously unobstructed views and greatly improved thermal comfort.
In addition to regulating natural light, View Dynamic Glass also significantly reduces energy usage and provides an important advancement in sustainable design. In a typical dynamic glass commercial installation, annual HVAC and lighting energy consumption is reduced by 20 percent while HVAC peak load is reduced by 25 percent.
View Inc. manufactures a new generation of architectural dynamic glass that intelligently adjusts in response to external conditions and user preferences, enabling unparalleled control over the amount of light and heat that enters a building. View Dynamic Glass provides continuously unobstructed views without heat or glare, creating a new level of occupant comfort and natural light while dramatically reducing building energy consumption. It also provides unprecedented architectural design freedom, eliminating blinds and shading structures and enabling building designs with larger glass areas.
View is headquartered in Silicon Valley with high-volume manufacturing facilities in Olive Branch, Mississippi. For more information please visit viewglass.com.
View Public Relations
Katy Kenealy, 801-828-6056
Venture Capital Database