Alarm.com Announces Investment by Technology Crossover Ventures
Vienna, VA (PRWEB) July 26, 2012
Alarm.com, the industry leader in interactive security, automation and energy management services, today announced that Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage technology companies, has made a $136 million investment in the company. The investment will allow Alarm.com to continue to focus on developing and delivering the most innovative products in the market. TCV General Partner Tim McAdam will join Alarm.com’s Board of Directors along with the existing investor ABS Capital Partners.
“Alarm.com is pleased to welcome TCV as a new partner in the business and we are thrilled to have Tim joining our Board of Directors”, said Steve Trundle, CEO of Alarm.com. “TCV’s well established track record of growth investments in software and technology companies will be a strategic asset for us. We look forward to continued focus on developing new and innovative products and growing our business.”
“Alarm.com’s best of breed software services and device management platform has established the company as the premier solution provider of interactive security services,” said TCV General Partner Tim McAdam. “We are excited to work with Alarm.com to continue its growth and build on its track record of innovation.”
Alarm.com’s products and services have revolutionized the way people interact with their home or business and protect their properties. With an ongoing commitment to delivering the best home control experience and the most robust security services, Alarm.com has grown into the market leader with more than one million subscribers empowered and protected by its service. Alarm.com is dedicated to its vision of improving the safety, convenience and control of homes and businesses through wireless, web and mobile technology. Working in tandem with its industry partners, Alarm.com delivers Better Security, Video Monitoring, Energy Management and Home Automation to residential and business property owners.
Alarm.com, founded in 2000, is the industry leading technology provider of interactive security, automation and energy management solutions. Through its proven technology platform and advanced wireless, mobile and web-based solutions, Alarm.com helps protect and empower over a million residential and commercial customers throughout North America. Alarm.com delivers interactive security, video monitoring, home automation and energy management to users exclusively through a network of thousands of licensed and authorized Dealer Partners. For more information, visit the company's website at http://www.alarm.com.
Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage technology companies, providing funds to later-stage private and public companies. With $7.7 billion in capital raised, TCV has invested in nearly 200 technology companies leading to 54 initial public offerings. Selected investments include Altiris, C|NET, eHarmony, ExactTarget, Expedia, Facebook, Fandango, Go Daddy, Genesys Software, Groupon, HomeAway, Netflix, RealNetworks, Redback Networks, RiskMetrics Group, Solect Technology, Splunk, TechTarget, and Zillow. TCV has 11 partners and is headquartered in Palo Alto, CA with offices in New York, NY. For more information about TCV, including a complete list of TCV investments, visit, http://www.tcv.com.