Updated: A twelve-year-old company that makes wireless security and energy management systems called Alarm.com has just closed a round of $136 million in equity according to a filing. The Virginia-based company confirmed the round with me, but wouldn’t disclose any more details.
A couple years ago investors ABS Capital, Equis Capital and Alarm.com’s CEO Steve Trundle acquired Alarm.com from a firm called MicroStrategy that had majority share. I would speculate that at least part of the new funds come from those acquiring investors. Update: The company announced on Thursday that the investment came from Technology Crossover Ventures (TCV).
Alarm.com makes connected security and smart home systems that use cellular networks and mobile apps to enable customers to manage their homes. The security system has connected video cameras, and door, window and cabinet sensors, while the home management system has connected thermostats and controllable lighting.
Alarm.com says it has 1 million subscribers for its services, and recently signed a partnership to use Verizon Wireless’ network. Verizon is interested in renting space on its network for so-called machine-to-machine services.