# Silver Spring Networks

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/silver-spring-networks

- Industry: Software
- Headquarters: San Jose, US
- Website: www.silverspringnet.com
- Total disclosed funding: $207M
- Latest round: Series D (Apr 17, 2009)
- Investors on record: 6

## About

Silver Spring Networks Inc. provides advanced networking technology and software solutions aimed at optimizing the Internet of Things (IoT) ecosystem for utility management.Founded in 2002 and headquartered in San Jose, US, Silver Spring Networks specializes in smart grid technology. The company has executed a total of 21 deals, with its most recent funding round being PIPE, raising USD 11.99 mn on March 13, 2013. The company was formed by industry veterans with prior experience in tech innovations.Silver Spring Networks specializes in the development and deployment of advanced networking technology and software solutions for the Internet of Things (IoT) ecosystem. Their core offerings include comprehensive smart grid solutions that enable utilities to effectively manage energy distribution and consumption. These services facilitate real-time data monitoring, automated meter reading, and demand response capabilities, which help utilities optimize operations and enhance customer engagement. The technology addresses critical use cases such as energy efficiency, grid reliability, and improved customer service across various sectors, primarily serving utility companies in North America and Europe.Silver Spring Networks generated revenue of USD 2.17 bn in the most recent year, 2020, with an EBITDA of USD 91.03 mn. The revenue structure is based on a business-to-business model involving multi-year contracts for software licenses, maintenance, and support services, fostering long-term client relationships.Silver Spring Networks plans to leverage recent funding to enhance its product offerings by designing new software applications aimed at improving analytics for utility companies. The company is targeting geographic expansion into emerging markets in Asia and Latin America by the end of 2024. The funding raised in March 2013, amounting to USD 80.75 mn from an initial public offering (IPO), is intended to support these initiatives alongside the development of new technologies to further integrate IoT capabilities into their solutions.

## Funding rounds

- Series D, Apr 17, 2009, $32M — Foundation Capital
- Series D, Mar 13, 2009, $15M — Kleiner Perkins
- Series D, Oct 15, 2008, $58M — Kleiner Perkins, Foundation Capital, Northgate Capital, JVB Properties
- Series C, Jun 25, 2008, $17M — Foundation Capital, EdisonLearning
- Series C, Mar 31, 2008, $12M — Foundation Capital
- Series C, Nov 15, 2007, $1.7M — Foundation Capital
- Series C, Sep 21, 2007, $3.3M — Foundation Capital, Northgate Capital, Seneca Partners
- Series C, May 14, 2007, $40M — Foundation Capital, Seneca Partners
- Series B, Jun 9, 2006, $8.2M — Foundation Capital
- Series B, Jan 26, 2006, $4.5M — Foundation Capital
- Series A, Sep 1, 2005, $3.5M — Foundation Capital
- Series A, May 20, 2005, $6.5M — Foundation Capital
- Series A, Oct 19, 2004, $1.5M — Foundation Capital
- Series A, Jun 30, 2004, $2.5M — Foundation Capital
- Series A, Nov 25, 2003, $1M — Foundation Capital

## Investors

- Foundation Capital (https://capitalatlas.ai/funds/foundation-capital) — Series A, Series B, Series C, Series D
- Seneca Partners — Series C
- Northgate Capital (https://capitalatlas.ai/funds/northgate-capital) — Series C, Series D
- EdisonLearning — Series C
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series D
- JVB Properties — Series D