Nest proved that energy monitoring can be tantalizing. And it’s about to get even better. The company just announced that it has acquired MyEnergy to further enhance its suite of monitoring tools. Terms of deal were not released.
Originally called Earth Aid, the startup launched its online dashboard in 2009 as one of the first energy monitoring solutions. Similar to EnergySavvy, Google’s Powermeter andMicrosoft’s Hohm, Earth Aid, and now MyEnergy, provides consumers with information on how much electricity, water, and natural gas they use and how much they spend on these utilities. Simply connect your online utility accounts with the platform, and the system imports all the necessary bits and displays them on the beautiful web dashboard.
Spend a few quick minutes on MyEnergy .com and it’s easy to see why Nest wanted MyEnergy in its corner. The system is wonderful. Just like the Nest Learning Thermostat.
In 2011 the startup raised $4 million in Series A funding from Point Judith Capital, the Clean Energy Venture Group, and Capital-E. According to today’s announcement, MyEnergy has users in all 50 U.S. states and spans more than 1,500 utility territories.
“Giving our customers more in-depth access and analysis of their energy usage has always been part of the Nest vision,” said Tony Fadell, Nest founder and CEO said in a released statement today. “We’ve made great strides in the past year and a half; by bringing MyEnergy into the Nest family, we can reach our goals even faster. The MyEnergy team is incredibly like-minded and we’ve already begun working with them to find ways to integrate their technology into Nest products.”
The Nest Learning Thermostat is beautiful. But the web dashboard is lacking in depth. There is plenty of room for improvement. MyEnergy will likely not only make it look better, but dramatically enhance the tool set by giving the homeowner information from their neighborhood.
Nest is charging forward, simultaneously building out consumer aspects and partnering with utility companies. This acquisition clearly fits within Nest’s vision. It’s unclear exactly what Nest plans to do with MyEnergy, but as a Nest user myself, I’m rather excited to see what Tony Fadell and team does with the beautiful MyEnergy platform.