SAN FRANCISCO (Reuters) - Privately held smart grid networking company Silver Spring Networks said on Tuesday it had raised $100 million in its latest round of financing and was in no hurry to test the public markets.

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With the latest round, Silver Spring has raised a total of about $250 million.

Silver Spring has contracts with power utilities that serve 25 percent of the U.S. population, including Pacific Gas & Electric Co and Florida Power Corp.

The investment round was led by institutional investors and included existing investors Google Ventures, Foundation Capital, Kleiner Perkins Caufield & Byers and Northgate Capital.