Contact Information: For more information: Rebecca Myers Communications Director EnergyHub 718-522-7051 ext. 18
EnergyHub Secures Series A Financing to Bring Home Energy Management to Consumers and Utilities
Company Raises Funds From .406 Ventures and Physic Ventures to Accelerate Product Development and Implement Utility Pilots and Partnerships
| Source: EnergyHub
BROOKLYN, NY--(Marketwire - April 7, 2009) - EnergyHub, a leading home energy management
solutions provider, has closed a Series A round co-led by .406 Ventures and
Physic Ventures. Terms of the investment were not disclosed.
EnergyHub's suite of products empowers home owners to be energy efficient
and strengthens the relationship between energy providers and consumers.
"EnergyHub's end-to-end solution is the smartest, simplest, and most
cost-effective option for both home owners and utilities," EnergyHub CEO
Seth Frader-Thompson said.
The company will use the proceeds from this financing to support continued
product development and to implement pilot programs with utilities across
the United States. "With the increased focus on energy efficiency and
demand response programs, as well as consumers' growing desire to save
money and conserve energy, we believe that we are well positioned to become
the leader in this exciting marketplace," Mr. Frader-Thompson added.
EnergyHub's comprehensive solution, which integrates in-home devices,
stand-alone displays, and web-based software, gives consumers real-time
information and control over their energy usage. With EnergyHub, home
owners can put their house to sleep -- setting back the thermostat and
switching off unused electronic devices -- with the touch of a button. They
can access data and control their home from the Internet or a mobile
device.
"EnergyHub empowers home owners to easily save energy and money while
making it possible to tap the full potential of the Smart Grid as it
becomes available. EnergyHub's affordable and accessible platform has a
great opportunity to make a positive and lasting impact on sustainability,"
said William Rosenzweig, Managing Director of Physic Ventures.
.406 Ventures' Managing Director, Liam Donohue, added: "EnergyHub is
providing a much needed two-pronged approach to decreasing per capita
consumption. The company offers consumers unprecedented control of their
energy use while enabling utilities to better manage their territories."
EnergyHub also announced that Mr. Donohue and Physic Ventures' Director
Andrew Williamson have joined its board of directors.
About EnergyHub
EnergyHub (www.energyhub.net) is the consumer face of the Smart Grid,
helping home owners reduce energy consumption and save money. EnergyHub
produces smart, simple, and cost-effective energy management tools that
strengthen the relationship between consumers and utilities and solve
today's energy problems.
About .406 Ventures
.406 Ventures (www.406ventures.com) is an early-stage venture capital firm
that invests in innovative Information Technology ("IT") and services
companies founded by the finest entrepreneurs. The .406 Ventures team
comprises industry entrepreneurs, operators, and investors who apply real
world experience, deep industry knowledge and networks, and strong
company-building skills to create value for entrepreneurs and investing
partners. .406 is typically the lead, first institutional investor in
early-stage and de novo investments in market-changing IT Security and
Infrastructure, Technology-Enabled Business Services, and Next-Generation
Software companies.
About Physic Ventures
Physic Ventures (www.physicventures.com) is the first venture capital firm
dedicated to investing in keeping people healthy by providing capital and
expertise to science-based, consumer-driven health, and sustainable living
companies. The firm's strategy is to capitalize on major economic, social,
and political trends shaping the landscape of personal and planetary
health, including the rapid migration toward a consumer-driven,
prevention-oriented "self-care" paradigm. Physic Ventures is based in San
Francisco, CA.