The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Register now!
Palo Alto, Calif.-based Nest Labs attracted a lot of attention in 2012 and launched the second-generation of its smart thermostat back in October. That model is slimmer and offers compatibility with 95 percent of low-voltage heating and cooling systems in the U.S.
A Nest spokesperson told VentureBeat that “we don’t comment on funding,” so we only have GigaOM’s report to go on.
Google Ventures reportedly led the new round of funding, while Venrock participated as a new investor. In the past, Nest has raised “tens of millions” but hasn’t specified exactly how much. Previous investors include Kleiner Perkins, Generation Capital, Lightspeed Venture Partners, and Shasta Ventures.
Nest is apparently shipping 40,000 to 50,000 of its high-class thermostats per month, a figure that could reach 1 million per year if the company’s sales continue to rise. Most of Nest’s sizable growth is happening in Europe and the United States.
Nest photo via Devindra Hardawar/VentureBeat
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more