Smart home startup company Nest Labs is reportedly on the verge of raising $150 million in a new round of financing that would value it at more than $2 billion.
The financing news, which was based on information from sources close to the situation, was reported by Re/Code.net
, a brand new tech and media news site led by Walt Mossberg and Kara Swisher, the same folks who built AllThingsD. On a side note: All Things D, which was housed under the Wall Street Journal moniker (and owned by Dow Jones) is gone. In its place, the WSJ has redesigned its tech site. Re/Code is owned by Revere Digital, an independent media company whose investors include NBCUniversal News Group and Windsor Media.
Back to the Nest news. The valuation of the company could be pushed even higher if more than $200 million is raised on a $3 billion valuation. Sources told Re/Code that DST Global investment firm has clinched the deal.
Nest Labs, founded in May 2010 by former Apple product engineers Tony Fadell and Matt Rogers, has received a lot of attention over the Apple design-inspired smart learning thermostat it introduced in October 2011. Since its inception, the company has released two major software updates to improve its thermostats, began selling Nests in Canada and in the U.S. at Lowe's Amazon and the online Apple store, partnered with Texas utility Reliant Energy, purchased MyEnergy and launched a new product.
The company's latest product is the Protect Nest—a smart smoke and CO detector that gives a voice warning, allows the user to silence it with the wave of their hand and includes mobile notifications if the battery is running low.
Pre-orders of the Nest Protect smoke and CO alarm began shipping in November and consumers can buy the product online at Amazon, Apple, Best Buy, nest.com and Home Deport for $129. That positive news was been dampened by a
lawsuit filed in November by BRK
, a company that started making battery-powered smoke detectors in the early 1960s.
The pedigree of the folks behind Nest and the high-design smart products they've developed has fueled investor interest. Nearly a year ago, the company closed a round of $80 million based on a post money valuation of $800 million, news first reported by Gigaom. Google Ventures led that round.
Previous investors include Venrock, Kleiner Perkins, Generation Capital, Lightspeed Venture Partners, Shasta Ventures and Intertrust.
This post was originally published on Smartplanet.com