Control4 Home Automation
Control4 announced it has raised an additional $15 million in private capital after a new funding round led by Foundation Capital. Existing investors Frazier Technology Ventures, Thomas Weisel Venture Partners and vSpring Capital also participated. Adam Grosser, general partner of Foundation Capital, has been appointed to Control4's board of directors. The financing will be used to continue Control4's rapid growth through the development and sale of broad market home automation products. The company had raised about $18 million prior to this round.
These VC firms believe that the market for digital home products is on the verge of explosive growth, and Control4 has the management team, products and market position to take advantage of this important market.
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