Growing home control and multi-room audio/video manufacturer utilizes capital for inventory and expansion.
Loveland, CO - May 26, 2009 - Colorado vNet, a Loveland, CO -based manufacturer of award -winning home automation and distributed digital audio/video solutions, has announced today it has closed a round of private funding to fuel the company's market expansion efforts both in North America and internationally. "Our philosophy has always been to build products of the highest quality with unrivaled usability and design, said Bill Beierwaltes, CEO. "This investment reinforces the strength of that business strategy." Colorado vNet CFO Tom Gambon added "We are confident this support will accelerate our product development efforts and help us significantly grow our business."
Referencing a recent ABI Research study that indicated home automation system shipments will reach 2.8 million by 2011, Mike Malone, VP of Sales for Colorado vNet, commented, "We are well positioned to meet the growing demands of the market. Our dealers remain excited about our solutions, and this investment gives us the capital to grow the business and improve service levels to our integrators."