Credit Suisse Invests $20 Million in SmartSynch

JACKSON, Miss.--SmartSynch, a global leader in public wireless smart metering technology, announced today that it has raised $20 million dollars in expansion financing. New investor Credit Suisse, a leading international financial institution based in New York, invested in the financing through its Customized Fund Investment Group. This round also provided an opportunity for a new investor, Southern Farm Bureau Life Insurance Company, to participate in SmartSynch’s success, along with a host of existing investors, such as: Battelle Ventures, Beacon Group, Endeavor Capital Management, GulfSouth Capital, Innovation Valley Partners, Kinetic Ventures, OPG Ventures and Siemens Venture Capital. To date, SmartSynch has raised a total of $80 million since its inception in 2000. It will use this latest round to fund working capital growth, expand market presence and accelerate the product roadmap for new Advanced Metering Infrastructure (AMI) and Smart Grid Intelligence solutions. Link.