Germantown-Based CURRENT Raises $13 Million, Picks Willie as New CEO
Germantown, Maryland – CURRENT, provider of core smart grid infrastructure and software solutions has raised $13m in venture capital funding from a group of international investors and promoted Tom Willie as the new chief executive and President of the company.
The venture capital firms involved in the funding were the new investors Business Media China and Espírito Santo Ventures, and were backed up by existing investors Associated Partners, EnerTech Capital and Goldman Sachs. CURRENT plans to use the new funding to accelerate product development and continue to expand in the European and Asia Pacific markets. The company will also be hiring new employees in the field of engineering and technical computing.
Tom Willie, who previously works as the Product Chief Officer replaces former CEO Tom Casey, who in February left the company to take a position as chief executive of Integra Telecom in February. Another notable addition is the former Ocular Inc. Chief Financial Officer John Du joined Current as the new CFO.
The seed funding announcement is on time with the GridWeek conference in the Washington area which brought positive impact to the company and give them a more visibility with their grid product in the market.
Visit Current’s Website for more information.
