Cloud energy management software provider Opower raised $115.9 million in its initial public offering Friday on the New York Stock Exchange, the Washington Post reported Friday.
Steven Overly writes that Arlington, Va.-based Opower’s shares climed 21 percent to $23 on the company’s first day of trading.
Goldman Sachs and Morgan Stanley served as book-running managers for the IPO, according to Overly.
Long-time friends Dan Yates and Alex Laskey founded the company in 2007 to offer technology for utilities to manage energy conservation programs.
Opower posted $887 million in sales last year.