Thursday, May 31, 2007

Powerit Holdings Raises $7.1M

Seattle-based Powerit Holdings, a company developing energy demand management systems, said Thursday that it has raised $7.1M in a Series A venture capital round. The company is developing systems that use hardware, software, and remote sensors to manage the demand of large energy users. The funding was led by @Ventures, which invested $3.0M in the round, and also included Expansion Capital Partners and Stellar Holdings and Company. Marc Poirier of @Ventures and Bernardo Llovera of Expansion Capital Partners join the firm's board as part of the funding. More information »