Investment Enables Company to Drive Continued Global Expansion and Further Capitalize on the Soaring Demand for Building-Performance Lighting Solutions
Redwood Systems, the leading provider of building-performance lighting solutions, today announced it has secured $11.75 million in series C funding. The investment will enable Redwood to continue its rapid growth in global markets and drive new innovations across the Redwood platform. The round includes participation from Battery Ventures, U.S. Venture Partners, Index Ventures and Mitsui & Co, Ltd.
“We are proud to be one of the companies succeeding at delivering on the promise of clean technology,” said Dave Leonard, CEO of Redwood Systems. “We are rapidly adding world-class companies that achieve significant operational savings and reduce their environmental footprint with our solutions, and our blue-chip group of investors is enthusiastically supportive of Redwood’s progress to date. This investment will allow us to continue our rapid growth by accelerating the development of new technologies that complement the Redwood platform while expanding our leadership in the building-performance lighting industry globally.”
Redwood uses a patented approach that delivers efficient low-voltage DC power and control to lighting fixtures and a high-density sensor network. This allows the system to provide an average of 75 percent energy savings, as well as gather rich data around power consumption, temperature and space utilization. Leading global brands including Facebook, SAP and Volkswagen are using Redwood to reduce costs and lessen their environmental impact. In addition, Redwood recently established operations abroad in Europe, where it signed EDF, the second largest electric utility company in France.
About Redwood Systems
Redwood Systems’ building-performance lighting solutions facilitate lower cost, higher-performing workplaces. Redwood has developed the world’s only smart building platform that powers and controls lights and a high-density sensor grid providing both best-in-class energy savings averaging 75% and granular monitoring of space utilization, temperature and power consumption. This award-winning approach uses patented networking technology and a low-voltage DC architecture for high reliability and scalability as well as low cost installation. With a growing roster of market-leading customers and partners, Redwood is building a reputation for customer success worldwide. For more information, visit http://www.redwoodsystems.com.
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