Trilliant Raises $106 Million in Growth Capital, Funding Round Led by Investor Growth Capital, Vantage Point, ABB, and GE

Based in Redwood City, California, Trilliant is a market leader in smart-grid technology solutions and has announced that it has raised $106 million in growth capital with major investors leading the funding round. The leading investors are Investor Growth Capital, Vantage Point, ABB, and the strategic corporate investment arm of GE. They were also joined by the company’s existing investors, which include Mission Point Capital Partners and Zouk Ventures.

Trilliant provides utilities companies around the world with unique solutions to have seamless communications with grids and the company has acquired over 200 customers worldwide, including Hydro One in Ontario, Canada. Hydro One has already applied Trilliants unique technology to over 1.1 million customers to support one of the world’s largest billing time programs. Trilliant’s proprietary platform has a multifaceted architecture that can connect utility distribution, metering, and managing devices; remaining the only fully integrated smart grid solution in the entire industry.

According to the president and CEO of Trilliant, Andy White; some of the company’s investors represent some of the industry’s most prominent utility companies. They provide a combination of industry experience, financial backing, and global footprint will provide Trilliant the resources needed to expand its smart grid solutions across North America and globally.

Dr. Albert Kim, managing director at Investor Growth Capital further added that Trilliant has shown a proven track record in aiding utility companies in establishing a wide-ranging smart grid network that can allow for communication with power management devices in real time and cost effectively. Mr. Kim further added that the team at Investor Growth Capital has been monitoring the smart grid market for quite some time and the team at Investor Growth Capital has become very excited by the progress that Trilliant has shown in this industry. Furthermore, the team at Investor Growth Capital has been honored and is very enthusiastic in participating in a syndicated investment in Trilliant with prominent institutional and strategic corporate investors.

According to GE’s Luke Clamente, who serves as the managing director of metering and sensing of the company’s digital energy department; GE and Trilliant have common interests in the modernization of the power grid to meet the needs of our increasingly sophisticated 21st Century society. The two companies have agreed to work together and join forces in creating enhanced communication infrastructures and IT to the power grid. With a real-time communication from the power plants and the grid, the cost of electricity can be managed much easier by the consumers and the smart grid can also incorporate cleaner sources together with making the generation of electricity more efficient. GE is investing in Trilliant because this investment will allow for the two companies to strengthen their collaborative efforts in bringing metering and consumer solutions to a larger variety of smart grid opportunities.

Girish Adkami, the managing director at ABB has also added that the team at his firm invests in companies that have technologies that are of strategic interest to ABB. The smart grid technology that Trilliant provides a proprietary technology that addresses all three issues that are confronting utility companies today and makes it a compelling opportunity for an investment from ABB.