# ecobee

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/ecobee

- Industry: Consumer Products
- Headquarters: Toronto, Canada
- Website: www.ecobee.com
- Total disclosed funding: $136M
- Latest round: Series C (May 31, 2018)
- Investors on record: 13

## About

Based in Ontario, Canada, and founded in 2007 by John Metselaar, Mark Malchiondo, and Stuart Lombard, ecobee, Inc. operates and manufactures smart thermostats with remote sensors for users to conserve energy, save money, and reduce their environmental impact. In May 2018, ecobee, Inc. raised CAD 47 million in series C funding co-led by new investors AGL Energy Ltd., BDC Capital, and CDPQ, with participation from returning investor Amazon. The company has raised a total of USD 149.78 million in funding. In November 2021, Generac Holdings Inc announced to acquire the shares of ecobee Inc. in a transaction valued up to USD 770 million contingent on the achievement of certain performance targets.

ecobee, Inc’s. the product line includes smart thermostats, smart cameras, accessories, and smart home solutions. The smart thermostat is a digital programmable thermostat that helps in customizing temperature settings, including remote access to the thermostat settings from any computer by connecting to wi-fi. In addition, the company offers smart security, ecobee air filters, and professional installation services for the home. For businesses, the company provides smart buildings, a contractor portal, and ecobee energy. The company also provides support services, which include thermostat compatibility, product installation, help center, compatible platforms, and discover eco+.

The company plan to close its acquisition during the fourth quarter of the financial year 2021.

## Funding rounds

- Series C, May 31, 2018, $36M — BDC Capital, CDPQ, AGL Energy Ltd., Amazon
- Series C, Mar 7, 2018, $62M — Northleaf Capital Partners, Relay Ventures, Export Development Canada, Tech Capital Partners, Thomvest Ventures, Venture Ontario, Energy Impact Partners, GXP Investments, Evergy Ventures, Amazon
- Series B, Aug 18, 2016, $35M — Relay Ventures, Thomvest Ventures, Amazon
- Seed, Sep 1, 2007, $3M — Relay Ventures

## Investors

- Relay Ventures (https://capitalatlas.ai/funds/relay-ventures) — Seed, Series B, Series C
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series B, Series C
- Amazon (https://capitalatlas.ai/funds/amazon) — Series B, Series C
- Northleaf Capital Partners (https://capitalatlas.ai/funds/northleaf-capital-partners) — Series C
- Export Development Canada — Series C
- Tech Capital Partners (https://capitalatlas.ai/funds/tech-capital-partners) — Series C
- Venture Ontario (https://capitalatlas.ai/funds/venture-ontario) — Series C
- Energy Impact Partners (https://capitalatlas.ai/funds/energy-impact-partners) — Series C
- GXP Investments — Series C
- Evergy Ventures (https://capitalatlas.ai/funds/evergy-ventures) — Series C
- BDC Capital (https://capitalatlas.ai/funds/bdc-capital) — Series C
- CDPQ — Series C
- AGL Energy Ltd. — Series C