Company Acquires Recurve, Inc. and Expands its Physical Presence in the Global Epicenter of Cloud-Based Application Development
BOULDER, Colo. Feb. 24, 2012 – Tendril, the provider of the cloud platform for the Energy Internet, today announced it has acquired specific intellectual property of Recurve, Inc. and will retain Recurve’s current employees to be part of its new West Coast operations. Andy Leventhal, CEO of Recurve will join the Tendril management team. Financial terms were not disclosed.
Over time, Tendril will incorporate the Recurve residential energy auditing software and analytics into its cloud platform, TendrilConnect™. This will help continue to deliver unparalleled insight, choice and control to energy service providers, third-party product and service providers, and the more than 200 smart energy application developers in the Tendril Connect Application Developer Program. The addition of Recurve’s software engineering team will allow Tendril to accelerate adoption of Tendril Connect by more broadly supporting the growing number of third-party developers currently building applications on the Connect platform.
The San Francisco office will be Tendril’s fourth, joining its headquarters in Boulder, Colo., and regional offices in Boston and Melbourne, Australia. Tendril plans to continue to add software development expertise to its team by hiring additional employees in the San Francisco office to support its expanding customer base.
“This is a very organic fit,” said Adrian Tuck, CEO, Tendril. “Recurve has been providing deep residential energy auditing software for years to the home energy services and retrofit industry. We’re thrilled to be leveraging Recurve’s leading building modeling analytics as part of our cloud platform. This enables us to deliver more value to our customers and to add Recurve’s software development expertise to our growing ranks.”
Recurve is well known for its advanced energy modeling, reporting and pricing software tools that have been used to help contractors conduct home energy audits, provide specific energy saving recommendations and residential retrofits to deliver more comfort, convenience and energy efficiency to consumers. Tendril will use the Recurve software in its platform in combination with its own building physics model and behavioral science to provide individualized residential energy savings recommendations.
More and more, utilities and energy service providers are turning to building science and behavioral science to better engage consumers in Energy Efficiency, Demand Response and Load Control programs. As a result, residential consumers are able to see more accurate, personalized information about their energy use and gain access to more targeted energy-saving actions, products and services. With Amazon-like recommendation engines turning audit data into actionable information, the resulting programs are essential to the continued development of an energy services marketplace. In addition, they provide utilities with improved insight into residential energy usage empowering them to better manage load on the electric grid.
“We’re excited to join one of the fastest growing smart energy technology companies,” said Andy Leventhal, CEO, Recurve. “Tendril’s cloud platform has become the clear choice for utilities, industry leading companies, and application developers to connect consumers to smart energy products and services. It’s exciting to have our software integrated into Tendril’s powerful platform.”
This is Tendril’s second acquisition. The company acquired GroundedPower, a leader in behavioral science and consumer engagement, in October 2010.
Recurve makes software for contractors who perform home energy audits and residential retrofits, work that ultimately is designed to make customer’s homes more comfortable, healthy, and energy efficient. The software brings best practices and expertise together in one easy-to-use system. Recurve’s software was built from the ground up to speed up the contractor’s day-to-day work, while complying with state and federal standards, including Building Performance Institute (BPI), and Residential Energy Services Network (RESNET). Founded in 2004, Recurve is headquartered in San Francisco, Calif.
Tendril is the Energy Platform company, delivering end-to-end consumer engagement products, applications and services powered by Tendril Connect™—an open standards-based, secure and scalable platform that takes the complexity out of the Energy Internet. Tendril Connect creates a dialogue between energy service providers, third party providers of smart products and services, and consumers. Delivering consumer engagement software, in-home products and applications as well as easy to integrate utility solutions such as Demand Response and Energy Efficiency, Tendril offers unparalleled insight into energy decisions, making the Energy Marketplace a reality. The company is venture backed by VantagePoint Capital Partners, Siemens Venture Capital (SVC), Good Energies, RRE Ventures and GE. For more information, visit www.tendrilinc.com.