The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations
Reston, VA (PRWEB) May 08, 2013
Tollgrade Communications, Inc., a global leader in providing service assurance solutions to to the world’s largest utilities and telecommunications providers, announced today it has been selected as a finalist for Red Herring's Top 100 North America award, a prestigious list honoring the year’s leading private technology companies from the North American business region.
Tollgrade is being recognized for the tremendous growth achieved in its Smart Grid solutions business, which allows utilities to modernize their distribution grid. Using the tollgrade LightHouse® platform, consisting of Medium Voltage (MV) Sensors and Predictive Grid℠ analytics software, utilities receive real-time grid intelligence from the “blind spot” of the grid: the medium voltage distribution network -- the backbone needed to deliver electricity to millions of consumers. This section of the grid is largely unmonitored and spans over two million miles in the U.S alone. With the Tollgrade solution, utilities can cover the unmonitored part of their network to communicate real-time grid health data back to LightHouse software, allowing them to better pinpoint the locations of faults and provide the background context needed to analyze “cause and effect” behind disturbances like equipment failures. Over 10 utilities currently use the LightHouse system including Duke Energy in the U.S. and Western Power Distribution in the United Kingdom.
“Modernizing the nation’s electricity grid is not something that we can simply ignore or avoid – it impacts our national security and our market competitiveness. Last year, outages and power disturbances cost the U.S. over $200 billion alone. By offering visibility into the unmonitored part of the grid where outages and inefficiencies abound, Tollgrade’s Smart Grid business is at the heart of leading this grid modernization transformation,” said Ed Kennedy, Tollgrade’s CEO and President. “We are proud to be recognized by Red Herring among this list of high-tech leaders and believe this is another strong indicator that we are at a market tipping point for our Smart Grid business, where we are seeing accelerated growth and opportunities.”
2013 will be remembered as a special vintage year. "The finalists list confirms the excellent choices made by entrepreneurs and VCs and the start-ups' solid roots in corporate America, embracing their innovations. By all metrics, it emphasizes the United States’ entrepreneurial excellence," said Alex Vieux, publisher and CEO of Red Herring.
Red Herring has been selecting the most exciting and promising start-ups and "scale ups" since 1995. Finalists are still evaluated individually from a large pool of hundreds of candidates based across North America. Twenty major criteria underlie the scoring and process. They include, among others: the candidate company's addressable market size, its IP and patents, its financing, the proof of concept, trailing revenues and management's expertise. Each company goes through an individual interview after filling out a thorough submission, complemented by due diligence. The list of finalists often includes the best performing and prominent companies of that year.
Finalists are asked to present their winning strategies at the Red Herring North America Forum in Monterey, Calif., May 21 to 23, 2013. The Top 100 winners will be announced at a special awards ceremony the evening of May 23 at the event. Please follow the Red Herring conference at https://twitter.com/digitalherring hashtag #RedHerring100
With a global footprint and over 25 years of experience providing cutting-edge network assurance solutions, Tollgrade Communications, Inc. has built a reputation for improving the reliability and operational efficiency at the world’s largest utilities and communications service providers, allowing operators to reduce customer down time and recover lost revenue. Named one of the Top 13 Smart Grid Companies to Watch in 2013, Tollgrade is part of the Golden Gate Capital portfolio – a San Francisco based private equity firm with more than $12 billion of capital under their management. Learn more about the company at http://www.tollgrade.com
Tollgrade Media Contacts:
Kimberly M. Getgen
Director, Smart Grid Technical Marketing
Tollgrade Communications, Inc.
+1 703-408-1571 (mobile)