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Smart Home

Watch out, Nest: Ecobee just got an additional $36M to make smart devices

Smart thermostat maker Ecobee now has over $155 million to compete with Google's Nest.

Toronto-based startup Ecobee on Thursday announced a $36 million funding windfall from investor Caisse de dépôt et placement du Québec.

That brings their investment total up to $155 million.

Ecobee makes smart thermostats, including our current favorite -- the $249 Editors' Choice-award winning Ecobee4. In addition to its user-friendly app and optional DIY installation, the Ecobee4 has an Alexa speaker built into it. It also works with Google Assistant and HomeKit, Apple's Siri-powered smart home platform.

The Amazon Alexa Fund previously invested in Ecobee, pitting it against Google's smart thermostats, the Nest Learning and the Nest E

Ecobee introduced a new device category in March when it launched the Ecobee Switch Plus light switch. 

Given that Nest's current lineup includes thermostats, smoke and carbon monoxide detectors, smart doorbells, security cameras, a security system and a smart lock, Ecobee has a lot of ground to cover. 

"Now, this round of funding will allow ecobee to continue transforming the way consumers control their homes as we build the world's first home operating system that leverages voice, advanced sensor technology and powerful AI," said Ecobee Founder and CEO, Stuart Lombard in the official press release

We'll see.

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