iControl raises $15.5 million, collaborates with GE on touchscreen panel
LAS VEGAS--IControl Networks, a provider of Web-based residential security solutions based in Palo Alto, Calif., closed a $15.5 million round of Series B funding on April 1, and announced the funding at ISC West here in Vegas. The funding round was led by investor Kleiner Perkins Caufield & Byers (KPCB) and includes existing investors Intel and Charles River Ventures. "This round of funding will be primarily used to bolster R&D," said Reza Raji, president and chief operating officer of iControl Networks. "The money will be used to accelerate product development and deployments for this year and next."
IControl is currently developing and testing a touchscreen security panel in collaboration with GE Security, which will manufacture, brand and sell the panel using iControl's Home Security 2.0 technology, said Jeff Wilson, vertical market manager at GE Security. The panel offers both security and non-security functions including traditional arming and disarming capabilities and access to live and recorded video. The focus of the touchscreen panel is on "10-second glanceable Web-content" such as Web-based reports of weather, traffic and sports, said Raji, "it's not intended for the user to stand there and surf the Web." IControl's technology can also be accessed via PC and mobile devices.
The touchscreen panel is "currently in development and will be available later this year," said Wilson.