April 3, 2008
Home Security 2.0 Earns IControl $15.5M Series B

IControl Networks Inc. has raised a $15.5 million Series B round for what it calls Home Security 2.0.

Kleiner Perkins Caufield & Byers led the round as a tie-in to its recently announced iFund supporting applications for Apple Inc.'s iPhone and iPod Touch. Previous backers Intel Capital and Charles River Ventures also participated. Kleiner Partner John Doerr will join the board of directors.

IControl offers software-as-a-service for the home security market. The company partners with home security companies, Internet service providers and telecommunications companies to deliver Web and mobile connectivity to security systems. The idea is to become the fourth component of the traditional triple-play involving television, phone and Internet.

"This is home security for the new millennium," Chief Executive Reza Raji said. "It's a 40-year-old industry that is in dire need of innovation."

IControl builds and operates iControl Service, a Web-based connection for users to send and receive photos, videos and text alerts via any Web-enabled computer or mobile phone.

The company also offers off-the-shelf components - cameras, sensors, thermostats, light modules and other devices - to position in homes or businesses to provide users with a visual snapshot of what's happening while they're away. Users can get real-time information about alarms, view or take pictures, and receive email or text message alerts when devices are triggered. They can also set monitoring schedules for each device, or program it to activate when triggered by an unexpected event.

The company is also developing applications specific to the iPhone.

"We're creating a very simple-to-install system, which created a phenomenal user experience by keeping users connected to their security system," Raji said.

Founded in 2003 and based in Palo Alto, Calif., iControl has a team of 35. The company previously raised about $6.5 million.