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Dealipedia - AlertMe.com receives an investment from Good Energies...

AlertMe.com receives a $11.28 million investment

Deal Participants:
Company: AlertMe.com View Profile Charts Homepage
Investors: Good Energies View Profile Charts Homepage
Index Ventures View Profile Add Homepage Google Search
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VantagePoint Venture Partners View Profile Charts Homepage
Deal Financials:
Investment Amount: $ 11.28 million
Series: B
Date:
Announced: Jun 10, 2009

PRESS RELEASE - AlertMe.com receives a $11.28 million investment

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.

About Good Energies
Good Energies is a leading global investor in renewable energy and energy efficiency industries. The firm invests in solar, turbine-based renewables, green building technologies and other emerging areas within clean energy. Guided by the “3-P” principle of People-Planet-Profit, Good Energies looks for meaningful, long-term investments in companies with outstanding growth potential. The firm’s mission is to accelerate the global transition to a low-carbon economy.

Founded in 2001, Good Energies manages the renewable energy portfolio of COFRA, a family owned and managed group of companies. The firm operates globally from offices in London, New York, Toronto, Washington, D.C., and Zug, Switzerland. Current and previous investments include REC, Q-Cells, Solarfun and Sunfilm. For more information visit: www.goodenergies.com.

About Index Ventures
Index Ventures is a leading European venture capital firm active in technology, biotech and clean tech venture investing since 1996. The firm is dedicated to helping top entrepreneurial teams in the Information Technology and Life Science sectors build their companies into market defining global leaders. The firm has offices in Geneva, London and Jersey and focuses on investments from seed through growth stage companies. Index’s portfolio includes Lehigh Technologies Inc., Playfish and Weatherbill and exits of note include Skype (the pioneering communications company acquired by eBay); MySQL (the world’s most popular open source database recently acquired by Sun), Last.fm (the world’s largest social music platform, recently acquired by CBS) and BioXell (BIOX, floated on the SWX in 2007). For more information, please visit www.indexventures.com

About SET Venture Partners
SET Venture Partners (SET VP) is the General Partner of Sustainable Energy Technology Fund C.V. This independent clean energy focused venture capital fund is backed by Dutch-based utility companies Essent and Delta. SET VP, based in Amsterdam, does early stage venture capital investments in European-based companies that offer a unique clean energy technology, product or service, and/or enjoy a competitive market position with a high upside potential. The target companies all take advantage of the active market transition from the traditional use of conventional hydrocarbons to a more sustainable energy infrastructure and/or an increased efficiency of the energy produced.

About VantagePoint Venture Partners
VantagePoint Venture Partners is a leader in investing in 21st Century technologies and partners with entrepreneurs in the CleanTech, Healthcare and Information Technology sectors. With a large investment team of experts, a broad network of Strategic Partners and Senior Advisors, and more than $4.5 billion in committed capital, the Firm has the depth of resources to help build transformative companies that are clear leaders in their fields. The Silicon Valley Firm has investments in more than 70 companies, including notable CleanTech companies Better Place, BridgeLux, BrightSource Energy, Miasolé, Premium Power, Tesla Motors and others. For more information, visit www.vpvp.com.

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