Kleiner Perkins Caufield & Byers Leads Series B Funding; KPCB Partner John
Doerr Joins iControl Board of Directors
PALO ALTO, Calif., April 2, 2008 /PRNewswire/ -- iControl Networks,
Inc., the first provider of consumer-focused 'Home Security 2.0' solutions,
today announced the close of $15.5 million in Series B funding. The company
plans to use the $15.5 million raised to extend its integrated solutions
into the security and broadband marketplace. The funding round was led by
new investor Kleiner Perkins Caufield & Byers (KPCB) and includes existing
investors Intel and Charles River Ventures.
iControl is also pleased to announce that John Doerr, a KPCB Partner
whose portfolio includes Amazon, @Home, Google, Intuit, Netscape and Sun
Microsystems, will be joining iControl's board of directors.
"The convergence of broadband, mobile and home security marks a new
frontier," noted John Doerr. "With iControl's innovative, easy-to-use
solution, home management and security will become the next major broadband
service."
iControl's Home Security 2.0 solution takes 'peace-of-mind' to the next
level with a 'triple-play' of consumer value: simple, connected and safe. A
simple and compelling consumer experience accessed via web, mobile phone,
touch screen and Apple iPhone that makes iControl a perfect fit for KPCB's
iFund. A connected home that can be viewed, managed and controlled
remotely, and enhanced safety via tri-mode network connectivity to central
monitoring stations present a market-changing solution.
"I am extremely excited with the Kleiner Perkins investment and vote of
confidence in iControl," said Paul Dawes, CEO of iControl Networks. "We're
very pleased with the momentum that continues to build around Home Security
2.0, and we look forward to accelerating adoption with our new access to
KPCB's and John Doerr's unique market-building expertise."
About iControl Networks:
Palo Alto-based iControl Networks is a venture-backed software and
services company providing award-winning, residential and SME solutions for
the home security market. iControl Networks partners with home security
companies, Internet service providers and telecommunication companies to
deliver Home Security 2.0, the next generation of home protection and
connectivity. Investors in iControl include Kleiner Perkins Caufield and
Byers, Intel and Charles River Ventures. For more information, please visit
http://www.icontrol.com.
SOURCE iControl Networks, Inc.
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Related links:
http://www.icontrol.com
CONTACT:
Margaret Hoerster of Ruder Finn,
+1-312-329-3909, hoersterm@ruderfinn.com, for iControl Networks
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