Solar system manufacturer SunPower has invested $20m in US-based energy services management company Tendril as part of a deal through which SunPower will also license Tendril’s software.
Founded in 2004, Tendril provides cloud-based, data-driven software that helps homes and businesses manage their energy use efficiently.
Tendril raised $15m in a February 2013 round featuring industrial conglomerates General Electric and Siemens, which invested through its Siemens Venture Capital unit, as well as private equity fund Good Energies and venture capital firms VantagePoint Ventures and RRE Ventures.
The company has now raised about $178m in total, according to SEC filings.
Adrian Tuck, Tendril’s chief executive, said: “Our partnership with SunPower will extend that understanding to include solar, increase engagement and value to energy consumers, and allow SunPower and our utility partners to better serve their customer base with even more personalised programs and services.”