IControl Networks, a US-based developer of broadband home management technology, has raised $50m in its series D round from a consortium of corporate venturing investors.
Although the lead investors were undisclosed energy and clean tech investors, iControl said the others included computer equipment maker Cisco, cable company Comcast, chip maker Intel, phone operator Rogers Communications and Tyco International, the parent company of ADT Security Services, as well as venture capital firms Charles River Ventures and Kleiner Perkins Caufield & Byers through its iFund.
Louis Toth, managing director of Comcast Ventures, the corporate venturing unit of the eponymous cable company, said: "IControl is a leader in the broadband security and home management market with tremendous growth potential, particularly in the emerging market for energy management solutions.
"These additional funds put iControl in a position to offer energy management as a value-added service to its existing home security solution, and provide iControl’s deployment partners the full range of broadband services they want to offer consumers."
iControl’s OpenHome technology is behind Comcast’s Xfinity Home Security Service launched earlier in the month as well as ADT’s Pulse service.
IControl, which merged with peer uControl in November, said it had raised more than $100m, including money from US-listed conglomerate General Electric at its $23m C round in July 2009. Its $15.5m B round closed in April 2008 and $5m in its first round of funding in April 2006 by Intel and Charles River.
The money will be used to speed up deployment of iControl’s energy management solution and other broadband home management services, the company said. Investors include Cisco, Comcast Ventures, Intel Capital, Charles River Ventures, the Kleiner Perkins Caufield & Byers iFund, Rogers Communications and Tyco International.