ICONTROL NETWORKS RAISES $23 MILLION IN SERIES C FUNDING
Investment by ADT, Cisco, Comcast, GE and Intel Capital Will Propel the Future of Broadband Home Management
Palo Alto, Calif. (July 22, 2009) — iControl Networks, a leader in broadband home management, today announced the completion of a $23 million Series C investment, bringing its total venture and strategic capital funding to more than $45 million. This latest funding includes new investments from Tyco International’s ADT Security Services, Cisco, Comcast Interactive Capital and GE Security, together with continued investment by Charles River Ventures, Intel Capital and the Kleiner Perkins Caufield & Byers (KPCB) iFund.
iControl’s broadband home management solution allows homeowners to see and control their homes—including security and energy systems—via the Internet, iPhone and other mobile devices. Funding from these visionary companies shows their confidence in iControl to create and lead a new technology category – connecting consumers to their homes, families and properties.
John Doerr, partner at KPCB, said, "iControl is extending home security and energy management to the broadband Internet and iPhones so consumers can see, protect and manage their homes anytime, anywhere. Millions of consumers will have safer homes and be smarter energy users thanks to the shared vision of these industry leaders and their support of iControl."
Added Bruce Sachs, partner at Charles River Ventures, "A revolution in broadband home management is just beginning. iControl puts homeowners "in control" of their own security, energy and home health services. Each corporate investor – ADT, Cisco, Comcast, GE and Intel –leads its industry and will accelerate broadband home management through their investment in iControl."
iControl’s technology allows broadband operators, security providers and utilities to revolutionize their products and services by delivering broadband home security, energy management, remote monitoring and home health care to consumers.
Paul Dawes, CEO of iControl, said, "This incredible team of world class companies is exactly the group of investors we wanted. Together we will accelerate the development and rapid deployment of iControl’s technology."
# # #
Please direct all media inquiries to the following:
211 E. Ontario
Chicago, IL 60611