Fremont-Based Redwood Systems Lands $11.75M in Third Round

Fremont, Calif. -- Redwood Systems, a Redwood City-based provider of building-performance lighting technology, said on Wednesday it has landed $11.75 million in its third round of funding. Participants included Battery Ventures, U.S. Venture Partners, Index Ventures and Mitsui & Co. "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," said CEO Dave Leonard. Redwood is the developer of a smart building platform that powers and controls lights, as well as a high-density sensor grid that it says provides energy savings averaging 75%.
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http://www.redwoodsystems.com/news-events/press-releases/2012-may-30/redwood-systems-secures-1175-million-series-c-funding