Tendril, the provider of the cloud platform for the Energy Internet, 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.
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 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 behavioural science to provide individualised residential energy savings recommendations.
This is Tendril’s second acquisition. The company acquired GroundedPower, a leader in behavioral science and consumer engagement, in October 2010.
USA, Boulder, CO & San Francisco, CA