Smart Thermostat Software Startup EcoFactor Raises $3.5M
Date: 04/06/2010
Company: EcoFactor
Source: Earth2Tech
When 4-year-old EcoFactor, which makes software that intelligently manages connected thermostats, officially launched last November, a lot of folks took notice — apparently including investors. On the heels of raising $2.4 million in December, EcoFactorannounced this morning that it has raised another $3.5 million from RockPort Capital Partners.
In the company’s funding filing in December EcoFactor said it was in the process of raising $4.5 million, so this total of $5.9 million in funding is slightly more than expected. The company has a strong product, but the funding climate is also better: Greentech venture investments have bounced back in the first quarter of 2010, with $1.9 billion invested in 180 companies globallyaccording to the Cleantech Group — that’s up 83 percent over the same period a year ago.
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