Trilliant Inc, a zouk portfolio company, raises $106 million in equity funding round
zouk ventures is pleased to announce the completion of a $106 million funding round held by its portfolio company, Trilliant Inc, a leader in delivering Smart Grid solutions. The round was led by two highly-respected financial investors, Investor Growth Capital and VantagePoint Venture Partners. In addition, General Electric and ABB, a European power technology group, joined the round as strategic industrial investors. As an existing investor, zouk has continued to support the company strategically and financially.
"We are delighted to welcome such an influential group of investors to Trilliant", said Anthony Fox, Trilliant Board member and the zouk Partner responsible for the investment. "Such a combination of financial and strategic investors will continue to strengthen Trilliant’s position as one of the pre-eminent players in the Smart Grid market."
"Our new investors represent some of the largest and most trusted companies in the utility industry," said Andy White, President and CEO of Trilliant. "Their combined industry experience, financial strength, and global footprint will provide us with the resources to expand our Smart Grid solutions across North America and to a global marketplace. The strength and caliber of our partners will give current and future customers confidence that they have chosen a long-term market leader."
Trilliant will use the financing and strategic relationships to fund Trilliant's product development and continued international growth. Recently, the company won a contract to build a $200 million smart-meter system for the 610,000 customers of Central Maine Power Co, an Iberdrola USA company. In Europe, Trilliant leveraged zouk’s regional knowledge and networks to win the first Smart Grid contract in the UK with Centrica (British Gas) in October 2009. With over 200 utility customers, including Hydro One in Ontario, Canada, Trilliant has developed of the largest Smart Grid installations in the world.