While the home automation market continues to grow each year, current solutions only address customers who are building high-end custom homes or doing major reconstruction on an existing home. Homeowners need a more affordable way to automate their existing homes without the headaches and expense of major remodeling. And they want to be able to add new products over time as they are able to afford additional technology.
The founders of Control4 — Will West, Eric Smith and Mark Morgan — understand the needs of homeowners. As veterans of the home automation market, they recognize that better wireless standards and the advent of Internet Protocol (IP) technology allow more existing homes to become candidates for home automation. That’s why the team has created a new company called Control4.
Financials
| Date | Type | Amount | Investors | Valuation |
|---|---|---|---|---|
| 08/01/04 | Series A | 15M | Unknown | |
| 01/01/05 | Series C | 15M | Unknown |