Tendril acquires GroundedPower, raises $23M more in VC

Tendril, a Colorado-based energy management technology provider, announced on October 19, 2010 it has acquired GroundedPower, a privately held, Massachusetts-based provider of an interactive customer engagement system for consumer energy management and efficiency.

Founded in 2008 by a small team of experts in the psychological and behavioral processes that people use to interact with technology, GroundedPower offers technology that combines real-time energy monitoring with a suite of consumer engagement and behavioral change tools.

Also on October 18, Tendril announced that it has raised $23 million in its fourth round of venture capital.

Investors in Tendril include VantagePoint Venture Partners, Good Energies, RRE Ventures, TIAA-CREF, and GE.