Silver Spring Networks
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| Public | |
| Traded as | : SSNI |
| Industry | Smart Grid |
| Founded | Milwaukee, Wisconsin (2002) |
| Headquarters | San Jose, California, U.S. |
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Area served
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U.S., Australia, Canada, Latin America, UK, Europe, Asia |
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Key people
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Mike Bell, President and CEO |
| Products | IPv6-based smart grid communications network, demand response, demand automation, utility management software, consumer web portal |
| Website | silverspringnet |
Silver Spring Networks is a provider of smart grid products, headquartered in San Jose, California, with offices in Australia, Singapore, Brazil, and the United Kingdom. Besides communications devices, Silver Spring Networks develops software for utilities and customers to improve energy efficiency. Founded in 2002 backed by venture capital, Silver Spring Networks went public on the on March 13, 2013.
Silver Spring Networks was founded in July 2002 as Real Time Techomm in Butler, Wisconsin, near Milwaukee. Original founders included Eric Dresselhuys who had worked on related technology since 1995, and Keith Burge. In 2002, funding came from Denver angel investor Jack Thompson. The company adopted the name of the street in Milwaukee of its original office and was relocated to Redwood City, California in 2003. At this time, Foundation Capital invested $8 million in the company and Raj Vaswani joined the founding team. Ray Bell became interim CEO and chief technology officer, but left to found Grid Net in 2005. Other investors included Northgate Capital, Kleiner Perkins Caufield & Byers and Google. The company moved its headquarters to San Jose in 2016.
The first large pilot deployment was started in 2007 with Florida Power & Light (FPL) in southern Florida. In 2008, Pacific Gas and Electric Company (PG&E) signed an agreement to provide the company's smart meters, and remained the largest customer for at least several years. On July 7, 2011, Silver Spring Networks filed with the U.S. Securities and Exchange Commission (SEC) to raise up to $150 million in an initial public offering. Silver Spring Networks went public under the listing symbol SSNI on the on March 13, 2013, raising about $81 million.
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