AlertMe secures 8 Million pound in series B funding

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AlertMe secures 8 Million pound in series B funding
Cambridge: AlertMe.com, a provider of smart energy saving systems for homes, has secured 8 million pounds in series B funding by 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. 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." Home energy usage accounts for more than one quarter of total energy consumption across Europe and the U.S., and consumers are increasingly looking for ways to save money and help the planet. Home energy-saving is the fastest and lowest-cost way to close the large gap between today's demand and what renewables can supply. Purchased through a utility company or a retailer, the easy-to-use AlertMe.com Energy Kit 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. As domestic energy consumption and demand is reduced in the home, consumers benefit by immediately saving money on their utility bills � all without compromising their in-home comfort.

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