iControl Networks Raises Over $50 Million to Accelerate Energy Management and Other Broadband Home Management Offerings Strategic Investors Include Cisco, Comcast Ventures, Intel Capital, Rogers Communications and Tyco International
PALO ALTO, Calif., June 20, 2011 /PRNewswire/ -- iControl Networks, a leader in broadband home management, today announced the close of over $50 million in Series D funding, bringing total investment in the company to more than $100 million. This round of funding will accelerate the deployment of iControl's energy management solution and other broadband home management services, while also positioning the company for international expansion.
"iControl is a leader in the broadband security and home management market with tremendous growth potential, particularly in the emerging market for energy management solutions," said Louis Toth, Managing Director, Comcast Ventures. "These additional funds put iControl in a position to offer energy management as a value-added service to its existing home security solution, and provide iControl's deployment partners the full range of broadband services they want to offer consumers."
iControl's OpenHome technology powers Comcast's recently-launched XFINITY Home Security service, the nationally-launched ADT Pulse service, and is in market deployments with numerous unannounced broadband service providers.
"Empowering individuals to directly manage energy consumption is one of the most important parts of the great promise of the U.S. Smart Grid initiative," said Al Gore, former U.S. Vice President and Partner with Kleiner Perkins Caufield & Byers.
"By layering energy management on top of an interactive home management platform, our service provider partners will be able to offer intuitive 'green home' value-added features to their customers," said Paul Dawes, co-CEO of iControl Networks.
The iControl OpenHome software platform is a broadband home management solution that enables broadband service providers, home security companies and utilities to offer interactive life safety and lifestyle services to their customers, allowing those customers to control and connect to their homes via the web and other mobile devices.
"This investment enables iControl to dramatically expand the capabilities of iControl's OpenHome platform in the areas of home security, monitoring and energy management," said Jim Johnson, co-CEO of iControl Networks.
iControl's Series D round was led by energy and clean tech investors. Other investors in this round of funding include Cisco, Comcast Ventures, Intel Capital, Charles River Ventures, the Kleiner Perkins Caufield & Byers iFund, Rogers Communications and Tyco International, the parent company of ADT Security Services.
iControl Networks is a venture-backed software and services company providing interactive solutions that define the broadband home management market. The iControl OpenHome™ Software Platform, an award-winning software solution that has made the Connected Home a reality, enables home security companies, broadband service providers and utilities to offer the next generation of home management, security and connectivity to their customers. Investors in iControl include Charles River Ventures, Cisco, Comcast Ventures, Intel Capital, the Kleiner Perkins Caufield and Byers iFund, Rogers Communications and Tyco International. For more information, please visit www.icontrol.com.
SOURCE iControl Networks