SALT LAKE CITY--(BUSINESS WIRE)--July 15, 2005--Control4 today announced it 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 Control4's board of directors. The financing will be used to continue Control4's 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," said Grosser. "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 award-winning home automation products and services at the CEDIA trade show in September.
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"Control4 is making home automation a reality with a unique line of wired and wireless home automation products," said Grosser. "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 award-winning home automation products and services at the CEDIA trade show in September.
Read the rest of this press release
