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05/18/2011 11:02 AM     print story email story  

Hara Energy Management Raises Largest Fundest Round from GE, NRG Energy, ConocoPhilips News

Hara, which makes environmental and energy management software, has received $25 million in Series C funding, the company's largest round, bringing total investment to $45 million.

New investors in the round include Energy Technology Ventures, a joint venture of GE (NYSE:GE), NRG Energy (NYSE:NRG), ConocoPhillips (NYSE:COP) and ITOCHU Technology Ventures. Previous investors also participated in the round: Kleiner Perkins Caufield & Byers (KPCB), JAFCO Ventures, and Nth Power. 

The funding will allow Hara to accelerate global expansion and product innovation, to meet growing demand for solutions to help optimize energy and resource use while minimizing environmental impact.

Adding GE, NRG Energy and ConocoPhillips as investors is significant, as Hara plans to expand the reach of its Environmental and Energy Management (Hara EEM) solution into manufacturing, utilities and oil and gas.

Also, ITOCHU has entered into a strategic partnership with Hara to serve clients in Japan.

Hara has secured more than 50 industry and government customers, including Aerojet, Akamai, City of Las Vegas, City of Palo Alto, City of Philadelphia, Coca-Cola, Diebold, Hasbro, Intuit, EMD Millipore, News Corporation, Safeway and U.S. Bank.

Hara also announced that Kleiner Perkins Caufield & Byers managing partner Ray Lane will join Hara's board of directors as chairman. Prior to joining KPCB in 2000, Lane served as president and chief operating officer of Oracle Corporation.  


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