Cambridge, England-based AlertMe.com, a provider of smart energy saving systems for homes, announced last week it has secured £8 million in Series B funding from investors Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners.
The financing will enable AlertMe.com to extend its product development program, continue to ramp up its distribution strategy and to expand the existing team.
Purchased through a utility company or a retailer, the AlertMe.com Energy Kit is connected to the Internet via the
home’s broadband connection, providing an online service that can be used from home, office or while on holiday. It constantly
measures and controls individual appliances within the home as well as
measuring and managing the home’s overall energy usage. The home-owner
can then conveniently view this information and change settings.
The
intelligent monitoring system and text or email suggestion service
means that even if a user is away from their home, they are able to
adjust heating controls, turn off switches and plan usage for non-peak
times. AlertMe.com provides regular updates of current energy usage in
addition to historical comparisons.
AlertMe.com's Smart Home platform can help consumers save up to 25% of their residential energy costs, year-upon-year, the company said. This means that AlertMe pays for itself in about 1 year (non-subsidised), and saves approximately 1 ton of CO? per home per year.
Pilgrim Beart, AlertMe.com founder and CEO said: "We recognize that major players around the world--government, consumers, large retailers and utility companies--have a strong interest in working together to reduce domestic energy consumption as quickly and efficiently as possible. AlertMe.com, with the backing of our investors, offers a truly global solution to this issue that is available to use today."
