AlertMe, a developer of home energy management devices based in the UK, has closed its Series B round funding raising a total of �15 million ($23.78 million).
Existing investors Good Energies, Index Ventures, SET Venture Partners and VantagePoint Venture Partners, all participated in the funding. British Gas stepped in as a new investor. The utility also signed a commercial agreement worth over �20 million to deploy AlertMe products and services to its UK customers.
AlertMe plans to use part of the cash from this second round of funding to expand its energy management technology outside its home market, in Europe and the U.S.
�Nearly a third of all energy is used in the home so consumers can play a significant part in saving energy and reducing their carbon footprint. It�s up to the energy sector and government to educate and engage them. Getting it right will be a win win situation for both consumers and the energy industry, AlertMe CEO Mary Turner said .
The company has raised a total of �20 million across two funding rounds.