Opower, a GE-backed company that uses data analysis to make energy use more efficient, has raised $115.9m from an IPO that could close at more than $133m.
US-based energy management company Opower has raised $115.9m from its initial public offering, at the top of the $17-19 range it set a few days previously.
Opower sold 6.1 million shares priced at $19.00 each, and will use the proceeds to puruse growth strategies by expanding its service for existing customers, entering new international markets and developing new offerings on its platform.
The company was one of the 12 winners of GE’s Ecomagination Challenge in 2010, and split $55m with…
