Tendril is a provider of Home Energy Management (HEM) solutions for the utility industry, offering a software platform that spans consumer engagement through smart‑home orchestration. The Tendril Platform was built over more than 10 years with more than $100 million in investment and contains advanced analytics on over 123 million homes. Its capabilities are used to execute Behavioral Energy Efficiency, Customer Engagement, and Demand Management programs, and the platform is deployed by some of the largest utilities in the world, including five of the top 10 U.S. utilities (AEP, ConEd, Duke Energy, PSEG and Xcel Energy). The company says it is seeing strong uptake of its HEM platform and expects an explosive growth period. Tendril plans to use new funding to accelerate growth through technology innovation, sales expansion and pursuit of acquisition opportunities. The company is based in Boulder, Colorado. Tendril Networks, founded in 2004 and based in Boulder, Colorado, provides a data analytics platform for the residential energy market. Its platform analyzes data on more than 123 million homes and supports behavioral energy efficiency, customer engagement (home energy reports and bill monitoring), and continuous demand management. The company offers an Orchestrated Energy product to integrate with connected energy solutions and optimize demand response. Tendril positions itself as a robust DSM data analytics platform with product flexibility to meet customers’ individual needs. The firm serves electric and gas utilities and energy retailers and emphasizes integrations with best-of-breed providers to enhance customer satisfaction. Recent financing activity includes an investment from Energy Impact Partners’ Energy Impact Credit Fund intended to support the company’s growth plans. Tendril offers an open, cloud-based Energy Services Management (ESM) platform that provides infrastructure, analytics and personalization to connect energy providers and consumers. The platform has been developed over the past 10 years and honed through millions of customer interactions, and already delivers personalized energy services to millions of U.S. customers. Tendril positions its software as an enterprise-class, flexible and scalable solution that enables targeted energy services and higher customer engagement. The company plans to customize its ESM platform for the European market and expand its footprint through partnerships. As part of that expansion strategy it has entered a strategic partnership with GDF SUEZ to serve European electricity users. Tendril is referenced in the article with operations tied to Boulder, Colo. Tendril builds a platform that connects utilities and customers through home energy management software and hardware, focusing on the underlying "plumbing" of the smart grid. The company acquired GroundedPower, a Massachusetts-based behavioral-engagement software firm, to add consumer-facing engagement capabilities. GroundedPower’s iCES product has been deployed across New York state and Cape Cod, where pilot participants achieved 9.3% energy savings. Its consumer software is accessible online and via smartphone, starts with two simple questions, and gradually builds a conversation to suggest savings actions and products. Tendril plans to offer a new product that integrates GroundedPower’s capabilities in the first quarter of next year. The company also announced it raised $23 million in a fourth round of financing. Tendril develops home energy management technology that improves broadband communication between demand-response appliances, smart meters and utilities. Its platform aims to enable appliances — programmable thermostats, dishwashers, refrigerators, washing machines, dryers, microwaves, water heaters and potentially EV chargers — to respond automatically to utility signals and operate when electricity is cheapest. The stated goals are to lower consumer electricity bills by redistributing energy use and reducing consumption during peak pricing, and to help utilities rebalance load and prevent outages. Tendril’s commercial strategy depends on integrating its technology into major appliance and utility networks via partnerships with large consumer brands. To that end, General Electric’s Consumer & Industrial division finalized a deal with Tendril to improve broadband communication and appliance responsiveness. Financially, Tendril reported a $30 million third round of capital led by VantagePoint Ventures.

Total raised

$72M

Funding rounds

6

Latest round

Equity

Latest activity

Feb 2015