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Home > PE News > By Region > North America > United States

KPCB leads $28.8m series B round in UpWind Solutions KPCB leads $28.8m series B round in UpWind Solutions

18 Mar 2010. Source: AltAssets
US-based wind service provider UpWind Solutions has raised $28.8m in a second round of funding led by Kleiner Perkins Caufield & Byers (KPCB), who was joined by return backer MissionPoint Capital Partners.

UpWind said the financing provides it with additional growth capital that will enable the company to continue to build on its technical capabilities and pursue complementary business lines to enhance its service offering. KPCB led the investment round out of its Green Growth Fund.

Michael Linse, partner at KPCB, said, "We are enthusiastic to invest in UpWind at this exciting time in the wind services industry. UpWind has established a brand in the wind services industry that stands for quality and top performance."

Based in Oregon, US, UpWind was founded in 2007. In addition to providing services to wind turbine equipment manufacturers and asset owners on an un-contracted basis, the company provides operations and maintenance services, commissioning, pre-warranty expiration and other services to the North American wind generation industry, including managing wind generation under long-term contracts on behalf of utility customers.

Since its founding in 1972, KPCB has backed companies including AOL, Amazon.com, Citrix, Compaq Computer, Electronic Arts, Genentech, Genomic Health, Google, Intuit, Juniper Networks, Netscape, Lotus, Sun Microsystems, Symantec, Verisign and Xilinx.

Copyright © 2010 AltAssets

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