AlertMe.com secures £8 million Series B funding from leading investors to expand energy saving platform

Cambridge, England – AlertMe.com, the award- winning provider of smart energy saving
systems for homes, today announced it has secured £8 million in Series B funding by investors Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners. The financing will enable AlertMe.com to extend its product development program, continue to ramp up its distribution strategy and to expand the existing team.

Saul Klein, Partner, Index Ventures said: ‘As energy demand increases worldwide, we see an urgent need for a disruptive and game-changing technology which is capable of leading a true revolution in home energy consumption. As investors, we’re excited to work with the experienced AlertMe.com team who are at the forefront of what we believe will be a huge and beneficial shift for both consumers and energy companies alike.’

Home energy usage accounts for more than one quarter of total energy consumption across Europe and the United States, and consumers are increasingly looking for ways to save money and help the planet.
Home energy-saving is the fastest and lowest-cost way to close the large gap between today’s demand and what renewables can supply.

The innovative and unique energy-saving technology from AlertMe.com, which is based on their Smart Home platform, is cheap and easy to use and can help consumers save up to 25% of their residential energy costs, year-upon-year.

This means that AlertMe pays for itself in about 1 year (non-subsidised), and saves approximately 1 ton of CO₂ per home per year. If every UK home had AlertMe, this roughly equates to taking half of the cars off the road.

Purchased through a utility company or a retailer, the simple and easy-to-use AlertMe.com Energy Kit is connected to the Internet via the home’s broadband connection, providing an online service that is easy to use from home, office or even while on holiday. It constantly measures and controls individual appliances within the home as well as measuring and managing the home’s overall energy usage. The home-owner can then conveniently view this information and change settings. The intelligent monitoring system and text or email suggestion service means that even if a user is away from their home, they are able to adjust heating controls, turn off switches and plan usage for non-peak times.

AlertMe.com provides regular updates of current energy usage in addition to historical comparisons. As domestic energy consumption and demand is reduced in the home, consumers benefit by immediately saving money on their utility bills – all without compromising their in-home comfort.
Pilgrim Beart, AlertMe.com founder and CEO said: ‘We recognize that major players around the world – government, consumers, large retailers and utility companies – have a strong interest in working together to reduce domestic energy consumption as quickly and efficiently as possible. AlertMe.com, with the backing of our investors, offers a truly global solution to this issue that is available to use today.’

About Alertme.com
Founded in 2006 and based in Cambridge, UK, AlertMe.com was established by successful serial
entrepreneurs. The company’s online service – AlertMe – enables consumers to take control of their energy consumption and drive it down, extending the reach of the Smart Grid and AMI networks right into the home.

Source : Alert me, June 19 2009