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eMeter

Health · Foster City, United States · Founded 1999

In 1999, long before "smart grid" was a common term, Cree Edwards co-founded eMeter with a clear vision. The company set out to build the essential software layer for utilities. Their product, EnergyIP, was a meter data management (MDM) platform designed to collect, process, and make sense of the vast amounts of data from electric, gas, and water meters. This software enabled utilities to move beyond manual readings and into a world of real-time grid information, helping them manage operations and improve customer service. The company attracted serious attention from Silicon Valley and strategic players. eMeter raised a total of $67.9 million from investors including Sequoia Capital and Foundation Capital. A pivotal moment came in 2008 when the industrial giant Siemens led a $12.5 million funding round, signaling a deep strategic partnership that was already in place. This investment validated eMeter's approach and integrated its software into Siemens' broader smart grid solutions. The playbook culminated in December 2011. Siemens, having worked closely with the company for years, moved to acquire eMeter outright. The deal, reportedly valued between $180 million and $220 million, was a strategic exit for a company that had positioned itself as a critical component in the future of energy management. Under the leadership of then-CEO Gary Bloom, eMeter was integrated into Siemens' Smart Grid Division, becoming the core of its meter data management operations and solidifying its technology's role on a global stage.