EcoFactor wants to make your home climate system smarter. The company demonstrated its product at VentureBeat’s GreenBeat conference today, where it was one of the highest ranked among the 10 competing startups (although Redwood Systems beat EcoFactor for the grand prize).
Scott Hublou, the company’s senior vice president of products, said EcoFactor’s software looks at many different data points that are relevant to your home climate system — the weather outside, the size of the home, energy pricing, and more. Then it makes many small adjustments to your thermostat during the day to keep the house at the desired temperature while keeping energy usage and costs low.
By improving on the clunkiness of standard thermostats, homeowners with EcoFactor can just enter their desired temperature once, rather than having to adjust it throughout the day or set a timer. Over the course of a year, the company estimates it will make 14,000 adjustments in each home, leading to an energy cost reduction of 20 or 30 percent
EcoFactor sells its software to businesses that can include it as part of their home climate system. The Redwood City, Calif. company has raised $5.9 million from Claremont Creek Ventures and RockPort Capital Partners.