ecobee raises $35 million from the Amazon Alexa Fund, Thomvest, and Relay Ventures


Toronto-based ecobee, which offers a smart thermostat, announced that it’s raised $35 million in its latest funding round.

The round was led by the Amazon Alexa Fund, Thomvest and Relay Ventures. The financing will allow ecobee to continue developing its technology.

“These investments enable ecobee to drive significant operational improvements, profitable growth and future product innovations for our customers,” said Stuart Lombard, president and CEO of ecobee. “We see this as a strong vote of confidence in our market-leading products and the growth potential of the connected home market.”

Since its founding in 2007, the company says that it’s experienced 100 percent YoY growth, and recently took the number one spot on Navigant’s annual Smart Thermostat Leaderboard rankings. ecobee is currently the second-best selling smart thermostat in the U.S. after Nest.

“This funding round marks our largest single Alexa Fund investment to-date and builds on our existing relationship with ecobee, who was instrumental in helping us build the Alexa Smart Home Skill API,” said Steve Rabuchin, Vice President of Amazon Alexa. “We’ve been impressed with ecobee’s innovative smart home technologies and their ability to improve the everyday lives of homeowners. We’re excited to see what the future holds for this growing company and the new voice experiences they’ll bring to Amazon Alexa customers.”

Jessica Galang

Jessica Galang

Freelance tech writer. Former BetaKit News Editor.

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