Mercato Partners, a growth equity venture fund, has joined current investors Thomas Weisel Partners, Foundation Capital, Frazier Technology Ventures and vSpring Capital, with an investment in Control4®, the leader in affordable, IP-based home control and entertainment systems. Mercato Partners was the largest investor in the $17.3M financing, co-investing with Best Buy Capital, the company’s newest strategic investor and University Venture Fund, the nation’s largest student run venture fund. The financing will assist in expanded distribution through the company’s network of over 1500 resellers as well as developing key energy management products.
“We have tremendous respect for Mercato Partners and are pleased with their participation in financing our expansion,” stated Control4 CEO Will West. “Alan Hall and Mercato Partners bring a unique and valuable perspective to the table, they truly understand our sales process and channel strategy.”

The company’s custom installers offer a full line of affordable Control4 home-automation products including user-interfaces, like touch screens and remotes; home controllers; lighting and thermostats; and a wide range of audio/visual products. Solutions are flexible and scalable, so users can start with a simple home-theater solution and add other features like lighting control and security over time. More than fifty vendors provide additional products that compliment Control4’s customized home-control solution.

Control4’s energy management solutions include in-home displays and smart thermostats. Combined with the utilities’ two-way communication-enabled smart meters, customers reduce both average and peak electricity consumption. Control4’s solutions give these customers real-time information about their energy consumption and the ability to manage power usage as they control and automate their thermostats, lights, spa or pool, sprinklers and other devices. Control4 also provides event-based alerts and remote administration so users are always reducing their utility bills.

“Control4’s innovative, easy to use platform is well positioned to become the operating system of the home,” Mercato Partners Managing Director Alan Hall commented. In addition to providing necessary growth capital, Mercato Partners will provide additional value through sales expertise in both the reseller and retail channels. “Control4 is positioned to lead rapid growth in advanced metering and make the home even more convenient and energy efficient.”

ABOUT CONTROL4

As the operating system for the connected home, Control4 brings home automation and control to the broad market. Control4 technology is at the heart of an expanding ecosystem of leading consumer electronics products designed to work together with ease. Control4 develops and delivers award-winning control software and hardware for virtually any room, home or building from anywhere at any time. Control4 is the affordable, easy to use, and easy to install solution for digital living. From essential energy management to effortless entertainment; from whole-home lighting control to comprehensive security systems, Control4 is the platform for managing all the pieces of today’s connected life.

ABOUT MERCATO PARTNERS

Mercato Partners was founded by marketing and sales execution expert, Alan E. Hall and serial entrepreneur and venture capitalist, Greg Warnock. Mercato Partners offers the innovative fusion of growth equity investing and world-class sales and marketing execution. The fund seeks minority investments in high growth technology and consumer electronics companies nationwide. The combined competencies around venture finance and sales and marketing execution allow Mercato to provide significant value to companies seeking growth capital.

Posted: 07|8|09 at 4:51 pm. Filed under: Finance News.