Control4 Raises $15 Million - ResidentialSystems.com

Control4 Raises $15 Million

Foundation Capital Joins Frazier Technology Ventures, Thomas Weisel Venture Partners and vSpring Capital to Complete New Funding Round
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Salt Lake City, UT--Control4 has raised an additional $15 million in private capital after a new funding round led by Foundation Capital. Existing investors Frazier Technology Ventures, Thomas Weisel Venture Partners and vSpring Capital also participated.

Adam Grosser, general partner of Foundation Capital, has been appointed to Control4s board of directors. The financing will be used to continue Control4s rapid growth through the development and sale of broad market home automation products.

"Control4 is making home automation a reality with a unique line of wired and wireless home automation products," Grosser said. "At Foundation Capital, we believe the market for digital home products is on the verge of explosive growth, and Control4 has the
management team, products and market position to take advantage of this important market."

Control4, which began shipping products in April of this year, is the first to deliver 802.15.4 (ZigBee) wireless products that can be retrofitted into any home to provide reliable, cost-effective home control. The company will be showcasing its home automation products and services at September's CEDIA EXPO in Indianapolis, IN.

"Since we started shipping products in April, the demand has exceeded our already high expectations," said Control4's CEO Will West. "We are pleased that customers, partners and investors are responding to our value proposition of delivering affordable, easy-to-use home automation solutions to a broad consumer market. This latest round of funding from outstanding investment partners allows Control4 to continue building on its momentum."

For more information, visit www.control4.com.

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