Smart thermostat maker Nest Labs Inc, of Palo Alto, California, has bought Boston-based start-up MyEnergy, which helps people monitor and reduce their home utility bills online. Terms of the acquisition were not disclosed.
MyEnergy CEO Ben Bixby co-founded the company in 2007 in Washington, D.C., and relocated it to Boston in 2011. The start-up raised a $4m series A round in early 2011, led by Point Judith Capital, Clean Energy Venture Group and Capital-E.
MyEnergy employed 12 people as of March, Bixby had said in an interview.
Nest Labs founder and CEO Tony Fadell said the acquisition would help improve customers’ access and analysis of their energy usage.
In January, Nest Labs reportedly raised $80m in funding from a consortium led by Google Ventures.