News: Portfolio 2006

InGrid, Inc. Secures $8 Million Series B Funding

New Class Of Home Protection Services To Expand $8 B Home Security Market

June 2, 2006: Berwyn, PA - InGrid today announced the closing of an additional $8 million in private capital after a new funding round led by CenterPoint Ventures. Existing investors Novak Biddle Venture Partners, PA Early Stage Partners and ZG Ventures also participated. David Schaller, general partner of CenterPoint Ventures, has been appointed to InGrid's board of directors. The financing will be used to continue InGrid's development and manufacturing of a new class of home protection products.

"InGrid's industry-leading technologies clearly set the company apart from today's home security companies and all of the new and emerging home security and monitoring companies we've evaluated," said David Schaller, general partner of CenterPoint Ventures. "For many years, the $8 billion security industry has been growing at less than half the rate of housing in the US. We believe that InGrid has the technology and management team to accelerate growth through distribution channels such as broadband providers and retailers."

Phil Bronner from Novak Biddle Venture Partners added, "InGrid's approach to home protection will become the industry standard and we are thrilled to continue our participation in the active home security and home monitoring space."

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