Smart thermostat maker Ecobee lands $80 mln in Series C

Ecobee Inc, the Toronto-based maker of a smart Wi-Fi thermostat, has secured $80 million in a Series C financing, bringing its total funding to date to about $188 million. Energy Impact Partners led the latest round. It was joined by Amazon Alexa Fund, EDC, GXP, Northleaf Capital Partners, Ontario Capital Growth Corp, Relay Ventures, Tech Capital and Thomvest. Since its founding in 2007, Ecobee said it has won more than a third of the smart thermostat market and shown over 100 percent year-over-year growth. Led by President and CEO Stuart Lombard, it will use the funds raised to advance its product suite using voice capabilities, sensor technology and artificial intelligence.

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