Thursday, October 10, 2013

GreenWave Reality Raises $19 Million for Home2Cloud Platform

GreenWave Reality, a start-up based in Irvine, California, raised $19 million in Series B funding to accelerate the rollout of its Home2Cloud platform through its global partners and scale up the company's operations.

GreenWave's Home2Cloud platform allows consumers to connect and manage all of their "things" that are or will be connected to the Internet such as smartphones, TVs, routers and smart appliances enabling them to access rich cloud based applications and services.  GreenWave is working with service providers and utility companies to enable an optimized in-home consumer experience delivering personalized information and entertainment, enhanced comfort and savings with leading cloud-based services.

The new funding was led by The Westly Group including follow-on investment from Craton Equity Partners. The company has raised  $31 million to date.

"Today's consumers are overwhelmed with technology. Therefore, they want easy-to-use products that help them live smarter, healthier and more efficient lives," said Greg Memo, CEO of GreenWave Reality.  "Our Home2Cloud platform securely and intelligently connects these smart devices to the Internet, unlocking new applications that will greatly enhance consumers' lives so they will better benefit from all the technology around them.  Securing this new funding, and gaining the experience of Steve Westly on the GreenWave board, will allow us to accelerate our rollouts with service provider and utility partners who are deploying innovative products and services based on our Home2Cloud platform."

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