Deals

Nest Labs acquires MyEnergy to help more folks track energy consumption

Nest Learning Thermostat (gen 2)

Smart thermostat maker Nest Labs has acquired MyEnergy to help provide more information to its customers about energy usage, the companies announced today.

Boston-based MyEnergy offers an online service that tracks electric, gas, and water usage in one dashboard. On top of making it super convenient to see your usage, you can also share and compare your results with family and friends. MyEnergy claims to have users in 50 states and spans more than 1,500 utility territories.

Nest founder and CEO Tony Fadell believes that bringing MyEnergy into the fold jibes well with Nest’s mission to help people use energy more smartly.

“Giving our customers more in-depth access and analysis of their energy usage has always been part of the Nest vision,” Fadell said in a statement. “We’ve made great strides in the past year and a half; by bringing MyEnergy into the Nest family, we can reach our goals even faster. The MyEnergy team is incredibly like-minded, and we’ve already begun working with them to find ways to integrate their technology into Nest products.”

The terms of the deal were not disclosed. Back in January, Nest Labs reportedly raised $80 million in new funding, with a valuation of $800 million.

Photo via Devindra Hardawar/VentureBeat