Index et al. sell AlertMe for £65m

British Gas was already a shareholder in AlertMe, having taken part in the company's second funding round in October 2010. British Gas paid £5.7m for a 15.96% stake and took a seat on AlertMe's board.

The funding round totalled £15m and was provided by SET, Index Ventures, VantagePoint Venture Partners and Good Energies alongside British Gas, with Index leading the round.

Prior to that, the company had raised £8m in a June 2009 funding round from Index, VantagePoint, SET and Good Energies.

Company
Founded in 2006, AlertMe is headquartered in London, with additional offices in Cambridge and North Carolina in the US.

The company has developed a platform designed to connect devices and applications in the home for monitoring, control and automation.

It claims to serve 500,000 homes in Europe and the US.

People
Mary Turner is the CEO of AlertMe. Rene Savelsberg is a managing partner at SET.

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• Topics
• Exits
• UK / Ireland
• Consumer
• United Kingdom
• Trade sale
• Index Ventures