AlertMe, a London, UK-based provider of online energy management solutions, has closed its £15m second round of funding.
Investors include existing backers Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners. They were joined by British Gas (parent company Centrica (LSE:CNA)), which has also signed a commercial agreement worth over £20m based upon technology delivery to deploy the company’s products and services to its customers in the UK.
In conjunction with the investment, British Gas will hold a seat on AlertMe’s board.
The new capital will allow the company to expand its partner and channel program in the UK, Europe and the USA, and to further extend its platform, services, analytics and ecommerce proposition.
The AlertMe Home Area Network (HAN) and cloud-based platform is designed to provide two-way communication for real-time monitoring, control, automation and analytics. According to the company, the platform allows consumers to manage and control a wide range of home activities over the internet and via their smart phone, saving up to 15-20% on their energy bills, reducing their carbon footprint and providing increased efficiency, convenience, comfort and peace of mind.
AlertMe also works with new Smart Meters being rolled out by utilities across the world, enhancing and extending the benefits of the Smart Grid to the consumer.