Verdiem powers up with cash |
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Mass High Tech
Verdiem powers up with cash
Verdiem, the Seattle software upstart which helps corporations and government agencies power down personal computers when they are not in use, has raised $4.7 million in fresh capital, according to a filing with the Securities and Exchange Commission.
A spokesman for Verdiem could not be reached for comment on Monday, so it is unclear how the company plans to use the cash or who participated in the round. Verdiem, led by software entrepreneur Jeremy Jaech, previously raised about $27 million from a group of investors that includes Kleiner Perkins Caufield & Byers, NCD and others. [Post updated with comments from Verdiem]
More companies are turning to Verdiem to to cut costs and reduce their carbon footprints in the workplace. Last summer, the company said that its software -- known as Surveyor -- had been installed on more than one million desktops. Customers include Cox Communications, Cadbury, the National Institutes of Health and others.
The City of Seattle, for example, said it has reduced its PC energy consumption by more than 35 percent with Surveyor.
UPDATE: Brett Goodwin, vice president of marketing at Verdiem, confirmed that the $4.7 million round of funding closed late last month. The valuation was not disclosed, but existing investors such as Kleiner Perkins Caufield & Byers and Catamount Ventures Participated.
Verdiem -- with 55 employees -- plans to use the cash to expand sales and marketing. "PC power management is low hanging fruit in Green IT -- as surveys have shown that up to 90 percent of organizations leave PCs powered on when not in use and 60 percent of end users disable or change power settings native in individual end user Windows operating systems," Goodwin said. Overall, he said that IT devices consume between two to four percent of total energy used globally.
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