Burglar and fire alarms connected to mobile phones could soon be a reality following a £5m investment in a company headed by two seasoned entrepreneurs.
Former Active Hotel’s director Adrian Critchlow who exited from the business when it was sold to PriceLine for £90m has teamed up with serial technology entrepreneur Pilgrim Beart for the project.
AlertMe, which launched in April 2006, is developing products which will send signals to mobile devices such as laptops and mobiles when an alarm is tripped.
The new technology is being billed as ‘home security for the internet generation’, although the technology has been in existence for some time.
The backing from the Tudor Investment Group will fund the company’s development through to market.
AlertMe plans to run trials of its products in Cambridge during the summer with a nationwide roll-out planned for the year’s end.
The financing follows initial seed funding from the co-founders and business angels and will also be used by brand development.
“We are extremely delighted to have Tudor as an investor,” Critchlow said.
“We feel this investment validates our product development efforts to date, and our planned approach to the home security market.”
© Crimson Business Ltd. 2007
