Thursday, October 10, 2013

GreenWave Reality Raises $19M

GreenWave Reality, a startup developing a platform to help manage the "Internet of Things"--and which is headed by former Cisco executive Greg Memo--said this morning that it has raised $19M in a Series B funding round. The round was led by The Westly Group, and also included Craton Equity Partners. GreenWave Reality is developing a platform to help consumers manage their smartphones, TVs, routers and smart appliances. GreenWave Reality said the funding will go to accelerate the rollout of its platform, which it calls Home2Cloud.

The startup is unusual, in that it already has 150 employees, and an executive team with a long history of experience at Cisco/Linksys. Greenwave's CTO, Martin Manniche, was CTO at Cisco Systems' Consumer Business Group; its CEO, Greg Memo, was VP and GM of Cisco's Consumer Business Organization; the company also has a considerable bank of executive experience from such companies as Nero AG, GridIron Software, Motorola Mobility, Nokia, and Apple.

More information »

---