Nest acquires green software startup MyEnergy
Nest Labs is scaling fast.
The Silicon Valley company formed by Apple alums Tony Fadell and Matt Rogers, who helped build the consumer gadget giant’s iPod and iPhones, has acquired Boston-based startup MyEnergy. The fledgling company helps homeowners understand their total energy use by presenting and analyzing all their electric, gas and water usage over certain time periods, and comparing it to other other homes in the neighborhood.
MyEnergy, which has been working with utility Minnesota Valley Electric Cooperative, will help Nest in its push to form partnerships with other utility companies to get the power-saving “Nest” thermostat into more U.S. households.
Nest recently teamed up with six utilities to provide consumer incentives for the use of its thermostats.
The acquisition — deal terms were not disclosed — would help Nest’s services to utilities by giving them an effective way to share data with customers, Nest said.
MyEnergy will also likely help beef up Nest’s energy monitoring tools.
Nest — which attracted funding from venture capital firms including Kleiner Perkins, Lightspeed Venture Partners, and Shasta Ventures — does not provide any sales figures for its thermostats but Chief Executive Tony Fadell had told Reuters last month the company is “blowing through all of our forecasts.