IBJNews

Power-grid software maker lands $7M in venture capital

Back to TopCommentsE-mailPrintBookmark and Share

Blue Pillar Inc., which makes software to manage electrical grids, has closed on $7 million in funding from four venture capital firms, it said Monday.

The Indianapolis-based firm, located at 9025 N. River Road on the northeast side, said it may double its 12-person local staff by year's end and seek additional office space locally.

Among the investors was Allos Ventures, with offices in Indianapolis and Cincinnati. Other investors are Claremont Creek Ventures, Arsenal Venture Partners and OnPoint Technologies—the U.S. Army’s venture capital fund. Allos principal John McIlwraith, Paul Straub from Claremont Creek and Jason Rottenberg from Arsenal all will  join Blue Pillar’s board as part of the deal.

The $7 million investment will help Blue Pillar with product development and let it go after a bigger share of customers who generate their own electricity. These include college campuses, hospitals, manufacturers, telecommunications providers and, increasingly, military bases.

Many of these campus-based generating systems are powered by natural gas, solar and wind generation, for example. The world market for such “microgrids” was $4.1 billion in 2010, according to Rockville, Md.-based SBI Energy.

Blue Pillar CEO Kevin Kushman said these on-campus generating systems often consist of a mishmash of equipment brands and vintages not networked to a central data-control system. Blue Pillar makes software touted at more efficiently managing and analyzing those generating assets. Clients include Tenet Healthcare and Duke University Health System.

Kushman previously worked at Cinergy, the Cincinnati-based utility later acquired by Duke Energy. His team includes Scott Prince, who’d worked in sales for Silicon Valley companies and most recently was executive director of the clean-tech venture firm EnerTech Capital.

Blue Pillar said its annual sales are under $10 million. Kushman said the company also is looking at expanding its customer base in developing countries, where public power grids are often unavailable or unreliable.

Early last year, Blue Pillar moved its headquarters from Alpharetta, Ga., to Indianapolis. It said it planned to add 70 employees by 2015 mostly in software development and sales. The average wage for those jobs is expected to be more than $40 per hour.

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. why oh why does this state continue to elect these people....do you wonder how much was graft out of the 3.8 billion?

  2. i too think this is a great idea. I think the vision and need is there as well. But also agree with Wendy that there may be better location in our city to fulfill this vision and help grow the sports of hockey and figure skating in Indy. Also to help further develop other parts of the city that seem often forgotten. Any of the other 6 townships out side of the three northernmost could benefit greatly from a facility and a vision like this. For a vision that sounds philanthropic, the location is appears more about the money. Would really like to see it elsewhere, but still wish the development the best of luck, as we can always use more ice in the city. As for the Ice growth when they return, if schedules can be coordinated with the Fuel, what could be better than to have high level hockey available to go see every weekend of the season? Good luck with the development and the return of the Ice.

  3. How many parking spaces do they have at Ironworks? Will residents have reserved spaces or will they have to troll for a space among the people that are there at Ruth Chris & Sangiovese?

  4. You do not get speeding ticket first time you speed and this is not first time Mr.Page has speed. One act should not define a man and this one act won't. He got off with a slap on the wrist. I agree with judge no person was injured by his actions. The state was robbed of money by paying too much rent for a building and that money could have been used for social services. The Page family maybe "generous" with their money but for most part all of it is dirty money that he obtained for sources that are not on the upright. Page is the kind of lawyer that gives lawyers a bad name. He paid off this judge like he has many other tine and walked away. Does he still have his license. I believe so. Hire him to get you confiscated drug money back. He will. It will cost you.

  5. I remain amazed at the level of expertise of the average Internet Television Executive. Obviously they have all the answers and know the business inside and out.

ADVERTISEMENT