iControl Networks Closes $50M in New Funding
PALO ALTO, Calif. — iControl Networks, a provider of broadband home management software, has raised an additional $50 million in Series D funding from investors.
A number of energy and clean tech investors led the latest funding round. Joining the round were Cisco, Charles River Ventures, Comcast Ventures, Intel Capital, the Kleiner Perkins Caufield & Byers iFund, Rogers Communications and Tyco Int’l.
The new funding will be used to extend iControl’s energy management solution and other broadband home management services into more service provider networks. The company said the funding would also be leveraged to help it expand internationally.
Comcast Managing Director Louis Tosh says iControl has great growth potential in the energy management market.
“These funds put iControl in a position to offer energy management as a value-added service to its existing home security solution,” he says.
The iControl OpenHome software platform offers interactive life safety and lifestyle services to its customers. Users can control and connect to their homes via Web-enabled devices. The technology also powers Comcast’s XFINITY Home Security and ADT Pulse home management systems.
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