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What does Ecobee do?
Ecobee, is a company which brought the smarter Wi-Fi thermostat with room sensors to the market. This company creates smart Wi-Fi thermostats for helping people become more comfortable while saving money and conserving energy. It delivers energy conservation solutions. It offers ecobee Smart Thermostat, a digital programmable thermostat which helps in customizing temperature settings. This thermostat connects the customer to their WiFi, and provides them remote access to the settings from any computer and helps in energy conservation. The company’s products are used in single family houses, offices, multi-family dwellings. The company accepts orders online.
How much Ecobee was funded?
The company raised $35M in Series C on August 18, 2016 from Relay Ventures, Amazon Alexa Fund and Thomvest Ventures
Previous funding
$2.58M on January 1, 2007 from Relay Ventures, Investeco Capital and Tech Capital Partners
$6.73M in undisclosed round on January 20, 2010 from Relay Ventures, The Ontario Capital Growth and Tech Capital Partners
$7.5M in Series B on August 1, 2012 from The Ontario Capital Growth, Relay Ventures, Just Energy and Tech Capital Partners
What is next for Ecobee?
The company plans to use the latest funding raised for driving significant operational improvements, future product innovations, profitable growth for its customers. The funding will help the company continue developing leading connected home technologies which make people’s lives better and simple.
More about Ecobee
The company was founded in 2007 by John Metselaar, Stuart Lombard and Mark Malchiondo. It has its headquarters in Toronto, ON. Since 2007, the company has experienced over a 100% year over year growth, and was recently named number one on Navigant’s annual Smart Thermostat Leaderboard rankings. This is the company which has introduced to the world first smart Wi-Fi thermostat for helping millions of customers in saving money and conserving energy and bringing home automation into their lives.
