What is ecobee?
ecobee designs and manufactures intelligent smart home devices, including advanced thermostats, security cameras, and sensors, aimed at enhancing residential comfort, security, and sustainability. The company's solutions are engineered for seamless integration into existing smart home ecosystems, empowering homeowners and contractors to optimize energy consumption and reduce their environmental footprint. ecobee's commitment extends to robust customer support and a focus on sustainable practices, such as offering refurbished products and promoting significant energy savings for its users.
How much funding has ecobee raised?
ecobee has raised a total of $78.4M across 4 funding rounds:
Other Financing Round
$2.2M
Debt
$6.7M
Series B
$7.5M
Series C
$62M
Other Financing Round (2007): $2.2M with participation from Relay Ventures, Tech Capital Partners, and InvestEco Capital
Debt (2010): $6.7M led by Relay Ventures, Tech Capital Partners, and The Ontario Capital Growth
Series B (2012): $7.5M supported by The Ontario Capital Growth, Just Energy, Tech Capital Partners, and Relay Ventures
Series C (2018): $62M featuring GXP Investments, Thomvest Ventures, Relay Ventures, Energy Impact Partners, Export Development Canada, Northleaf Capital Partners, The Ontario Capital Growth, and Amazon Alexa Fund
Key Investors in ecobee
Relay Ventures
Relay Ventures is an early-stage venture capital firm that invests in passionate entrepreneurs disrupting incumbent industries and creating new markets with the power of mobile computing. They focus exclusively on software for mobile, from sensor to cloud, providing unparalleled networks and resources.
Tech Capital Partners
Tech Capital Partners is a venture capital firm dedicated to building world-class technology companies, collaborating with ambitious entrepreneurs who have transformed innovative ideas into globally competitive businesses. They provide financial support, connections, and mentorship.
Energy Impact Partners
Energy Impact Partners (EIP) is an investment firm dedicated to transforming the energy industry towards a decarbonized, decentralized, digitized, and electrified future. They collaborate with leading innovators and major energy companies to foster a cleaner and more resilient energy landscape.
What's next for ecobee?
The substantial enterprise-level funding, particularly the recent strategic investment, positions ecobee for accelerated growth and market expansion. This capital infusion is likely to fuel further innovation in smart home technology, potentially enabling the company to enhance its product development pipeline, scale its operations, and strengthen its market presence. Strategic partnerships and continued focus on energy efficiency will be key drivers for ecobee as it navigates the evolving smart home landscape.
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