Innovari Secures Growth Funding From VantagePoint Capital Partners
Interactive Energy Start Up Launches out of Stealth
LAS VEGAS, June 9, 2014-- Interactive energy platform developer, Innovari, announced today that it is launching out of stealth mode with an initial B round investment from VantagePoint Capital Partners that allows the company to engage potential strategic partners to close the growth-focused Series B funding round.
The Austin-based company, which was founded in 2011 and has commercial projects already underway on three continents. Innovari's interactive energy platform is built to allow utilities and their customers to work together to provide dynamic capacity as needed throughout the entire year, not just during peak events. This platform enables a model that delivers unprecedented reliability, efficiency, and financial optimization across the energy value chain.
"Innovari is providing the industry's only interactive platform to empower utilities, regulators, and consumers to work together to change how the world uses energy," said Innovari CEO, Chris Hickman. "The past few years have been dedicated to refining our solutions with a small number of utility customers. With that successfully completed, we are now ready to enter our next stage of growth. VantagePoint has shared our vision from the beginning and we are excited to partner with them again as we launch the company into this next phase."
"VantagePoint has always looked to work with transformative companies that change the status quo and actively seeks out those companies with the greatest potential for solving challenging problems," said Lee Burrow, Managing Director VantagePoint Capital Partners. "We're excited to be invested in a company that is uniquely changing the market's paradigm in such a positive way."
About VantagePoint Capital Partners:
VantagePoint Capital Partners is a venture capital firm with investments in the cleantech, information technology, and healthcare sectors. Founded in 1996, the firm has raised over $4 billion with more than $1 billion dedicated specifically to cleantech. VantagePoint is based in San Bruno, California with offices in Beijing and Hong Kong.
Innovari's interactive energy platform connects utilities, their customers, and their communities to improve how the world uses energy. Our solution attacks the electric grid's core problem—the load duration curve—unlocking access to affordable capacity that improves system utilization, reliability, and financial performance, while our non-profit, Plugged into Kids, brings together utilities and their customers to help the children in their communities. With deep grid situational awareness, we enable dynamic, two-way verifiable demand side management; grid system optimization; renewable and distributed energy resources integration; and more. Innovari is the utility industry's Capacity for Change: www.Innovari.com.
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