Global private equity and venture capital news and research

Home appliance control appmaker Arrayent nets $11.9m from DCM, Intel Capital

13 Nov 2013

washing machine_lrgDCM Ventures has joined Intel Capital to back an $11.9m Series B round for Arrayent, which uses the cloud to connect consumer electronic devices in the home.

The business attempts to help consumer brands by providing a platform which allows users to control compatible connected appliances from a single smartphone app.

Its current customers include Whirlpool, Pentair, First Alert and Chamberlain.

DCM general partner Jason Krikorian, said, “We are extremely compelled by Arrayent’s cloud-oriented architecture.

“With it, it’s no longer true that to provide sophisticated connectivity, device complexity must unduly escalate.

“An architecture like Arrayent’s is key to the Internet of Things delivering on its massive promise, and global consumer brands are recognizing that.”

Earlier this year DCM led a $9m Series B financing round for mobile advertising and analytics company Apsalar.

Fellow new investors Correlation Ventures also took part in the round alongside existing backers Thomvest Ventures and DN Capital.

Copyright ©2013 AltAssets

Legals & Terms of UsePrivacy Policy

AltAssets is registered as a trademark of Investor Networks Limited (06695690).
Registered Office: WeWork 4001, 1 Fore Street, London, EC2Y 5EJ
Content is © AltAssets 2000-2016