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Alarm.com raises US$ 136mn for smart home tech, passes 1mn subs

Alarm.com, a US provider of interactive security and energy monitoring systems, has reportedly closed a new round of funding worth US$ 136mn, and indicated that it passed 1mn active subscribers earlier this year.

GigaOM reports that the company has confirmed the new round of funding, but would not disclose any other details, such as who participated or what the company plans to use the new capital for.

Alarm.com’s partner community has grown its user base significantly in the past year, aided by the mass market adoption of interactive services that offer home security, energy management, video monitoring and home automation.

“With the support of an outstanding partner community, what began as a skunk-works R&D project more than a decade ago has evolved into a company that continues to thrive and innovate” said Steve Trundle, President and CEO at Alarm.com.

US research firm Strategy Analytics recently predicted that US revenues for smart home systems and services will hit US$ 7.6bn this year, driven in part by consumers’ desire for enhanced security and control systems with mobile apps, self-controlled lights, thermostats, locks and cameras.

The smart home space seems to be enjoying renewed momentum right now: US retailer Lowe’s recently forged an alliance with UK firm AlertMe to sell smart home kits and services which use the latter’s cloud technology in its home improvement stores across North America (details here).

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