Welcome!

@BigDataExpo Authors: Liz McMillan, Pat Romanski, Yeshim Deniz, PagerDuty Blog, Elizabeth White

News Feed Item

AutoGrid Systems Raises $12.75 Million in Series C Financing From Strategic Investors to Fuel Domestic and International Growth

E.ON, One of the Largest Utility Companies in the World, Joins the Latest Round of Investment in AutoGrid

REDWOOD SHORES, CA -- (Marketwired) -- 01/27/14 -- AutoGrid Systems, a leader in Big Data analytics and cloud computing solutions for the energy industry, announced today that it has raised $12.75 million in a Series C financing led by a consortium of strategic investors to expand its operations and bring its breakthrough Big Data analytics and predictive control technology to energy companies, utilities, and electricity users worldwide. The consortium includes the large European utility E.ON as well as existing investors Foundation Capital and Voyager Capital, among others.

The new round of funding will support AutoGrid's rapid customer growth for its Energy Data Platform (EDP) as well as expand the suite of company developed and third party applications available on EDP for use by the energy industry.

"E.ON has an ambitious objective to make energy cleaner and better wherever we operate," said Dr. Urban Keussen, Senior Vice President of Technology and Innovation at E.ON. "We are looking forward to deploying AutoGrid's market leading big data analytics and cloud computing technologies across several of our businesses."

E.ON is one of the world's largest utility holding companies, serving over 26 million customers in Europe, Russia, North America, Brazil and Turkey with annual revenues exceeding 130 billion EUR.

"In a short span of time, AutoGrid has established itself as a leader in Big Data analytics for the energy industry," said Dan Ahn, managing director at Voyager Capital. "We are very proud to have been working with this outstanding team since the very beginning. Big Data driven predictive analytics and automated control of complex industrial processes is one of the largest economic opportunities of our time, and AutoGrid's Energy Data Platform is well positioned to play a defining role in this sector."

"Foundation Capital has been fortunate to back several successful smart grid pioneers -- from EnerNOC to eMeter and Silver Spring Networks -- and we're thrilled to continue to build out the next wave of innovation with our investment in the outstanding team and technology at AutoGrid," said Steve Vassallo, general partner at Foundation Capital.

AutoGrid's Energy Data Platform is a highly scalable and secure big data analytics platform that analyzes the complex interrelationships within the energy supply chain through the petabytes of structured and unstructured data coming from smart meters, building management systems, M2M systems and other assets. The forecasts generated by EDP create a comprehensive portrait of grid activity that let generators, utilities, energy service providers and electricity users to predict and manage power distribution and consumption in a precise, secure manner.

Predictive control applications built on EDP allow power providers to curb peak power, balance supply and demand in real-time, detect theft or identify outages by utilizing data spread across different business units and data silos. Based on open standards such as OpenADR 2.0 b, Smart Energy Profile 2.0, and through an extensive library of interfaces to existing AMI systems, behind-the-meter devices, building management systems, grid sensors and weather services, EDP is able to bring data together from millions of devices from over 100 different vendors and process it in real-time.

AutoGrid's Demand Response Optimization and Management System (DROMS), a demand response management application based on EDP, costs up to 90 percent less to implement than conventional demand response management systems, supports the entire spectrum of behavioral and automated demand response programs in a unified manner, and yields up to 30 percent more power per demand response event by utilizing EDP's advanced forecasting and customer analytics capabilities.

The company's breakthrough technology enjoys substantial momentum in the marketplace with several significant customer wins:

  • City of Palo Alto Utilities implemented a demand response program for commercial customers in under 30 days. Ordinary demand response systems would have taken months to implement. The program saves an average of 1.2 megawatts per event.
  • Austin Energy created a "Bring Your Own Thermostat" demand response program with AutoGrid that linked to thermostats consumers bought at retail. The system has cut HVAC loads by up to 33% in subject homes. EVs also can link to the system so drivers can make money by delaying charging.
  • Silver Spring Networks, a leader in smart meter technologies, utilizes AutoGrid's Energy Data Platform within their UtilityIQ Demand Optimizer product.
  • Oklahoma Gas and Electric employs AutoGrid's Energy Data Platform to reach over 70,000 customers in one of the world's largest two-way communicating thermostat-based residential demand response programs.
  • NTT DATA, one of the largest IT service providers in the world, utilizes Energy Data Platform to build new applications in the energy management space.
  • Schneider Electric, a global smart grid leader, is utilizing Energy Data Platform for providing demand response functionality within the Wiser home management system.

AutoGrid is also collaborating with industry leaders such SAP, Big Data Energy Services, Lawrence Berkeley National Laboratory, Department of Energy, and the California Energy Commission, among others, on new applications and opportunities for EDP and DROMS.

"We are proud to receive a strategic investment from E.ON, one of the most respected global leaders in the energy world," said Amit Narayan, founder and CEO of AutoGrid Systems. "This investment will help accelerate our mission of turning Big Data into the cheapest, cleanest and most reliable source of power."

The company will also discuss a new strategic initiative at DistribuTECH taking place in San Antonio, Texas January 28 through 30, 2014.

About AutoGrid Systems
AutoGrid is dedicated to bringing the power of Big Data, predictive analytics and Internet scale computational techniques to the production and consumption of electricity. Serving utilities of all sizes, grid operators, electricity retailers, ESCO services companies, and end-users, AutoGrid develops and markets services that both help lower costs and improve reliability of the electricity supply chain. For more information, visit www.auto-grid.com.

Add to Digg Bookmark with del.icio.us Add to Newsvine

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

@BigDataExpo Stories
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
MongoDB Atlas leverages VPC peering for AWS, a service that allows multiple VPC networks to interact. This includes VPCs that belong to other AWS account holders. By performing cross account VPC peering, users ensure networks that host and communicate their data are secure. In his session at 20th Cloud Expo, Jay Gordon, a Developer Advocate at MongoDB, will explain how to properly architect your VPC using existing AWS tools and then peer with your MongoDB Atlas cluster. He'll discuss the secur...
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex softw...
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
In his session at Cloud Expo, Alan Winters, an entertainment executive/TV producer turned serial entrepreneur, will present a success story of an entrepreneur who has both suffered through and benefited from offshore development across multiple businesses: The smart choice, or how to select the right offshore development partner Warning signs, or how to minimize chances of making the wrong choice Collaboration, or how to establish the most effective work processes Budget control, or how to max...
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Deep learning has been very successful in social sciences and specially areas where there is a lot of data. Trading is another field that can be viewed as social science with a lot of data. With the advent of Deep Learning and Big Data technologies for efficient computation, we are finally able to use the same methods in investment management as we would in face recognition or in making chat-bots. In his session at 20th Cloud Expo, Gaurav Chakravorty, co-founder and Head of Strategy Development ...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...
SYS-CON Events announced today that Technologic Systems Inc., an embedded systems solutions company, will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Technologic Systems is an embedded systems company with headquarters in Fountain Hills, Arizona. They have been in business for 32 years, helping more than 8,000 OEM customers and building over a hundred COTS products that have never been discontinued. Technologic Systems’ pr...
SYS-CON Events announced today that Auditwerx will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Auditwerx specializes in SOC 1, SOC 2, and SOC 3 attestation services throughout the U.S. and Canada. As a division of Carr, Riggs & Ingram (CRI), one of the top 20 largest CPA firms nationally, you can expect the resources, skills, and experience of a much larger firm combined with the accessibility and attent...
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that Loom Systems will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2015, Loom Systems delivers an advanced AI solution to predict and prevent problems in the digital business. Loom stands alone in the industry as an AI analysis platform requiring no prior math knowledge from operators, leveraging the existing staff to succeed in the digital era. With offices in S...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...