AlertMe secures £15m in second round of fundraising
Strategic partnership deal to help consumers save cash and reduce carbon emission
Provider of online home energy management and connected home services AlertMe has closed its second round of funding after raising a total of £15m.
The AlertMe platform allows consumers to monitor, control and automate a wide range of services in the home, such as energy use, heating, solar PV, security and telecare, online and via a smartphone.
As part of the strategic investment, existing investors Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners have been joined by new strategic investor and commercial partner British Gas. The investment will enable AlertMe 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.
Mary Turner, AlertMe CEO, said: “Nearly a third of all energy is used in the home so consumers can play a significant part in saving energy and reducing their carbon footprint. It’s up to the energy sector and government to educate and engage them. Getting it right will be a win win situation for both consumers and the energy industry, so British Gas is an ideal strategic partner for us in the UK.”
Saul Klein, partner at Index Ventures, who led the round, commented: “We see an enormous global opportunity for the value proposition that AlertMe offers consumers. As more people look to manage their homes in a smart way, the AlertMe platform is well positioned to support this transition in easy to use, personalised and affordable ways.”