Verdiem Corporation Secures Over $8 Million in New Venture Capital Financing

Signaling that the future for energy efficiency is now, Kleiner Perkins Caufield & Byers and six other investors have provided $8.33 million in financing to Verdiem Corporation, a Seattle-based developer of power management software for PC networks.

Since its founding in 2001, Verdiem has raised a total of $15 million and garnered over 100 customers including the State of California, the City of Boston and the University of Wisconsin, as well as client partners in the United Kingdom. During these four years, Verdiem’s energy efficient customers have seen measurable savings of approximately $32 million and 319 million kilowatt hours. This saved energy has reduced greenhouse gas emissions by 273,000 tons and is the equivalent of taking 34,000 cars off the road.

Studies show that PCs and monitors use as much as 14 percent of all power consumed in office environments. Based on its existing customer base, annual use of Verdiem technology reduces greenhouse gas emissions at a rate equal to taking more than 9,800 passenger cars off the road for an entire year, or conserving 5,181,586 gallons of gasoline.

“Our funding clearly indicates that energy efficiency is moving front and center as we work together to prudently shape the post-petroleum era,” says Kevin Klustner, CEO of Verdiem. “People increasingly understand that energy efficiency is one of the least expensive, most effective and immediately adoptable action items for dealing with the environmental challenges we face. If you’re generating less energy, you have fewer power plants and fewer pollutants.”

In addition to driving the Clean Technology Revolution, Verdiem’s unique energy-efficiency solutions for PC networks are facilitating and spurring the Information Technology Revolution.

“Verdiem is essential to the continued growth of both the Internet economy and the new energy economy. In fact, implementing Verdiem’s software should be the first thing a company does as it considers how best to save money and save energy,” says Ted Schlein, a partner at Kleiner Perkins. “Just because the world is becoming more digital and distributed, and we’re extending commercial progress and productivity, doesn’t mean we have to forego sustainability. Consumers, communities and private – and public-sector entities can all benefit from Verdiem’s power management software. When it comes to energy efficiency, it’s the place to start to get the job done.”

Kleiner Perkins’ investment in Verdiem also indicates that meaningful clean technology financing activity is expanding beyond the alternate or renewable energy sectors.

“The best new companies have to provide unique energy efficiencies in order to add real value,” explains Steve Westly, California’s former state controller who now runs the Westly Group, a late-stage venture capital firm that invests in clean technology. “There’s little question that our society will benefit from increased investment in energy efficiency.”

Verdiem is the leading developer of power management software for PC networks. Verdiem’s SURVEYOR provides measurable energy and cost savings, simplified and automated management of PC power options, and painless implementation that comes with minimal maintenance and a rapid payback. The development of SURVEYOR was funded in part by the Northwest Energy Efficiency Alliance, and the software is approved as a conservation measure by utilities and power producers throughout North America. Verdiem is a recognized EPA ENERGY STAR Buildings Program partner and was recently awarded Premier Partner status in the U.S. Department of Energy’s Rebuild America program.

For more information, please visit www.verdiem.com