iControl Raises Another $50M for Home Automation Platform
Cisco, Comcast Ventures, Intel Capital, Rogers Communications and Tyco lead $50M venture round for home control vendor, bringing total funding to roughly $125M.
In what may be the biggest money-raise in home automation history, iControl has secured another $50 million in venture capital.
The company, which powers ADT Pulse and a start-up home automation initiative from Comcast/Xfinity, raised the money from Cisco, Comcast Ventures, Intel Capital, Rogers Communications and Tyco International.
Tyco is the parent company of ADT, iControl’s first substantial customer. Tyco also is the parent of alarm manufacturer DSC, which announced in April that it too would offer a home automation system based on the iControl platform.
iControl provides a SaaS (software as a service) solution for the remote monitoring and management of a home’s security, lighting, thermostats and other home automation devices.
RELATED: Architecture of iControl System: What it Can & Can’t Do
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Last year, iControl “merged” with competitor uControl in a deal that was largely considered to be an acquisition. uControl itself had raised about $24 million before announcing a single customer, bringing iControl’s take to more than $125 million.
Recently, Comcast announced it would use iControl for its new Xfinity Home Security offering. Specifically, Xfinity is using the uControl platform (called iControl SMA) which is a self-contained ZigBee-centric solution. ADT and DSC are deploying the original iControl solution, which blends standard security systems (GE, Honeywell, DSC) with a Z-Wave-enabled home automation hub.
Control4 appears to be the second biggest money-raiser in the home control business, with roughly $100 million in funding. The most recent round of was led by Cisco, which is deploying Control4 in its smart communities. Cisco also has been a long-time investor in iControl, and participated in the most recent round of funding.
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Julie Jacobson, recipient of the 2014 CEA TechHome Leadership Award, is co-founder of EH Publishing, producer of CE Pro, Electronic House, Commercial Integrator, Security Sales and other leading technology publications. She currently spends most of her time writing for CE Pro in the areas of home automation, security, networked A/V and the business of home systems integration. Julie majored in Economics at the University of Michigan, spent a year abroad at Cambridge University, earned an MBA from the University of Texas at Austin, and has never taken a journalism class in her life. She's a washed-up Ultimate Frisbee player currently residing in Carlsbad, Calif. Email Julie at [email protected]
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