New funds to extend wireless research: News from Zensys

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Zensys, the inventor of the Z-Wave wireless mesh networking technology for home control, has closed its third round of financing totalling $16 million. Led by Bessemer Venture Partners, one of the USA's oldest and most well respected venture capital firms, other participants in the round include Zensys' first-round venture capital partners, Palamon Capital Partners and Vaekstfonden, the Danish growth fund. Z-Wave, which is quickly becoming the industry's de-facto standard for home control, enables consumers to monitor and manage their lighting, security systems and other home products easily, conveniently and securely, from anywhere in the world.

Z-Wave is a fully developed, affordable, easy-to-use and interoperable technology that is available in more than 85 wireless home control and automation products on the market today and has the support of more than 125 companies, including industry giants Danfoss, Wayne Dalton, Intermatic, Leviton and UEI.

'We are investing in Zensys based on its proven and widely accepted wireless home control technology, as well as its ability to secure support throughout the industry and continually produce more efficient and more cost-effective Z-Wave chips', said Bob Goodman, Managing Partner at Bessemer Venture Partners.

'Zensys is clearly a company poised for significant continued growth'.

'We are bullish on the wireless home control space and, in particular, Zensys' position and progress within the market', said Erik Ferm, Partner at Palamon Capital Partners.

'As such, we are pleased to extend our relationship with Zensys and participate in their third round of funding'.

'This third round of funding is a strong statement about the confidence investors have in our product, vision and team and a validation of the success we have achieved to date', said Per Nathanaelson, Zensys' President and CEO.

'This new funding will enable us to further expand our leadership role and provide our partners with the tools to bring reliable and affordable home control solutions to the mass market'.

The funding will be used for continued research and development efforts, to drive consumer awareness for Z-Wave interoperability and to solidify Zensys' worldwide position in the home control market by enabling the company to acquire new partners and investigate new applications.

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