Control4 Brings Home Automation to Nasdaq

The first home automation company to go public is Control4, which had a successful IPO last week.

Trading under the ticker CTRL, the Salt Lake City company’s technology provides "brainpower" for peoples’ homes. Just about everything can be controlled remotely through a mobile device: energy and lights, security system,  garage door and television/ entertainment systems.  

This is a controller:

Control4 controller

The company priced the IPO around $16 per share and it’s up to about $22 today after going public on Friday. That gives Control4 a $500 million valuation.

Sales have been increasing a healthy 23% a year for the past four years, but after 10 years of operation it still shows losses.

Control4 says its software is being used in 120,000 homes, generating $109.5 million last year with a net loss of $3.7 million. 

Cisco invested $20 million in Control4 a couple of years ago, now worth double that.

Cisco also helps develop Control4’s products and is integrating them into its "Internet of Everything" strategy, which it believes will be a massive $14 trillion market over the next decade.

Smart phones and home Wi-Fi networks have opened the door to this interconnectivity now that bandwidths can support these functions.

This is one of the popular cleantech sectors for venture capital right now. A couple of competitors are Nest and AlertMe.

Back in 2010, Control4 partnered with Lockheed Martin to  create a comprehensive residential energy control system. 

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