iControl Networks (News - Alert), a leader in next-generation home management, has raised more than $50 million in Series D funding, bringing total investment in the company to over $100 million, the Palo-Alto, Calif.-based company announced on June 20.
This round of funding will accelerate the deployment of iControl's OpenHome 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 of Comcast (News - Alert) Ventures—which financed iControl, along with the energy and cleantech investors Cisco Systems Inc., Charles River Ventures, the Kleiner Perkins Caufield & Byers iFund , Intel Capital (News - Alert), Rogers Communications, and Tyco International.
"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 with the full range of broadband services they want to offer consumers," Toth continued.
"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.
iControl's OpenHome technology powers Comcast's recently-launched XFINITY Home Security service, the nationally-launched ADT Pulse (News - Alert) service, and is in market deployments with numerous unannounced broadband service providers.
"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. Suggested uses for the platform include:
- View your current energy usage in dollars
- Remotely change thermostat and lighting settings, or unlock front door
- Arm security system from the Web or iPhone
- See live video of the front door via the bedroom touch screen
"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.
For more information, visit the iControl website.
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Edited by Carrie Schmelkin