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Nexant, a consultant to the energy industry, has brought in $32.5 million of an expected $50.4 million in equity, according to a filing with the SEC. The San Francisco-based company provides consulting services and analysis software to clients like electric utilities and grid operators.

Nexant acquired energy software developer Excelergy in 2009. Excelergy’s software helps utilities with processes including streamlining complex billing, automating trading and settlement, and handling customer care and acquisition.

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