Smart Thermostat Company ecobee Raises $35 Million Funding Round led by Amazon Alexa Fund

ecobee, the company that brought you the smarter wifi thermostat with room sensors, today announced that it has closed  a $35 million funding round from the Amazon Alexa Fund, Thomvest and Relay Ventures.

According to today’s announcement, ecobee has experienced more than 100 percent year-over-year growth since its founding in 2007  and has recently been named No. 1 on Navigant’s annual Smart Thermostat Leaderboard rankings.

Connected smart home devices are well on their way to becoming as prevalent as smartphones and tablets, according to a recent study commissioned by Telus.

The study found  that 63 per cent of people predict that they will own at least one smart home device – such as a smart TV, thermostat, lighting, appliance, entry and security system; and other home automation solutions –  by 2018. And with half of those predicting they will own three or more.

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The ecobee3 smarter wifi thermostat with room sensors was the first thermostat to be directly compatible with Amazon Echo through the Alexa Smart Home Skill API, offering homeowners the added convenience and comfort of controlling room temperature with their voice.

In addition to voice control through Alexa-enabled devices, the ecobee3 delivers an average of 23 percent savings on household heating and cooling bills.

“This funding round marks our largest single Alexa Fund investment to-date and builds on our existing relationship with ecobee, who was instrumental in helping us build the Alexa Smart Home Skill API,” said Steve Rabuchin, Vice President of Amazon Alexa.

“We’ve been impressed with ecobee’s innovative smart home technologies and their ability to improve the everyday lives of homeowners. We’re excited to see what the future holds for this growing company and the new voice experiences they’ll bring to Amazon Alexa customers.”

ecobee Raises $6.73 Million