AlertMe.com, the provider of smart energy saving systems for homes, has secured £8 million in Series B funding from four investors: Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners. The new funds will be used to extend AlertMe.com's product development programme, continue to ramp up its distribution strategy and to expand its existing team.
Home energy usage accounts for more than one quarter of total energy consumption across Europe and the United States.
Home energy-saving remains the lowest-cost way to close the large gap between today’s demand and what renewables can supply.
The energy-saving technology from AlertMe.com is cheap and easy to use and can help consumers save up to 25% of their annual residential energy costs This means that AlertMe pays for itself in about 1 year (non-subsidised), and saves approximately 1 ton of CO₂ per home per year. If every UK home had AlertMe, this roughly equates to taking half of the cars off the road.
The Alertme.com Energy Kit is purchased through a utility company or a retailer and is connected to the internet via the home’s broadband connection, providing an online service that is easy to use from home, office or even 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. Saul Klein, Partner, Index Ventures said: ‘As energy demand increases worldwide, we see an urgent need for a disruptive and game-changing technology which is capable of leading a true revolution in home energy consumption. As investors, we’re excited to work with the experienced AlertMe.com team who are at the forefront of what we believe will be a huge and beneficial shift for both consumers and energy companies alike.’
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.’
To find out more about the companies mentioned in this article go to: www.alertme.com, www.goodenergies.com and www.indexventures.com.
About VantagePoint Venture Partners
VantagePoint Venture Partners is a leader in investing in 21st Century technologies and partners with entrepreneurs in the CleanTech, Healthcare and Information Technology sectors. With a large investment team of experts, a broad network of Strategic Partners and Senior Advisors, and more than $4.5 billion in committed capital, the Firm has the depth of resources to help build transformative companies that are clear leaders in their fields. The Silicon Valley Firm has investments in more than 70 companies, including notable CleanTech companies Better Place, BridgeLux, BrightSource Energy, Miasolé, Premium Power, Tesla Motors and others. For more information, visit www.vpvp.com.
