Alarm.com, Vienna, Va., announced that Technology Crossover Ventures (TCV), a leading provider of capital to growth-stage technology companies, has made a $136 million investment in the company. The investment will allow Alarm.com to continue to focus on developing and delivering innovative products in the market. TCV general partner Tim McAdam will join Alarm.com’s board of directors along with the existing investor ABS Capital Partners.
“Alarm.com is pleased to welcome TCV as a new partner in the business and we are thrilled to have Tim joining our Board of Directors”, said Steve Trundle, chief executive officer of Alarm.com. “TCV’s well established track record of growth investments in software and technology companies will be a strategic asset for us. We look forward to continued focus on developing new and innovative products and growing our business.”
Alarm.com’s products and services aim to revolutionize the way people interact with their home or business and protect their properties. With an ongoing commitment to delivering the best home control experience and the most robust security services, Alarm.com has grown to count more than one million subscribers empowered and protected by its service. Working in tandem with its industry partners, Alarm.com delivers security, video monitoring, energy management and home automation to residential and business property owners.