Wireless Security Provider Alarm.com Receives $136 Million Investment

VIENNA, Va. — Alarm.com, a provider of interactive security, automation and energy management services, has received $136 million in new funding by Technology Crossover Ventures (TCV), a private equity and venture capital firm based in Palo Alto, Calif., and New York.

TCV General Partner Tim McAdam will join Alarm.com’s board of directors along with the existing investor ABS Capital Partners.

“Alarm.com is pleased to welcome TCV as a new partner in the business and we are thrilled to have Tim joining our Board of Directors”, Steve Trundle, CEO of Alarm.com, said in a press statement. “TCV’s well established track record of growth investments in software and technology companies will be a strategic asset for us. We look forward to continued focus on developing new and innovative products and growing our business.”

Alarm.com said the investment will allow it to continue to focus on developing and delivering home control products in the market. In June, the company announced it surpassed 1 million active subscribers in the spring of this year.

If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!

Security Is Our Business, Too

For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.

A FREE subscription to the top resource for security and integration industry will prove to be invaluable.

Subscribe Today!

Get Our Newsletters