Smart thermostat company Nest Labs has raised $80 million in new funding, with an estimated value of $800 million, according to GigaOM. The company is reportedly shipping 40,000 to 50,000 thermostats per month.
Nest was founded in 2011 and is known as a “sexy” take on the thermostat, with its sleek design and ability to learn a household’s habits and preferences.
This latest round of funding for Nest has been led by Google Ventures, and Venrock is listed as one of the latest investors. Generation Capital, Lightspeed Venture Partners, Kleiner Perkins, and Shasta Ventures have all invested in the past.
Back in October 2012, Nest Labs launched the second generation of the smart thermostat device, a slimmer model that is compatible with 95% of low-voltage heating and cooling systems in the United States.
Most of Nest’s growth is happening in the United States and Europe, with as many as 50,000 products shipped out a month, a number that is well on track to reaching one million a year.