Detroit, MI – (January 5, 2015) iRule LLC (iRule) today announced that it has closed $2.5 million in Series AA equity financing.
The funding is dedicated to expand sales, marketing and product development and comes from existing investor Detroit Venture Partners (DVP), AOL co-founder Steve Case , fulfilling his commitment to invest in the company following iRule’s participation in the Google for Entrepreneurs Demo Day and another new and significant investor.
iRule is a software solution which transforms all iOS and Android based mobile devices into a universal remote control, allowing its customers full control of audio video gear simply and reliably, anytime from anywhere. iRule focuses on a powerful personalized remote with a simple user experience. iRule controls audio/video equipment, and all business and home automation devices (the Internet of Things) making it compatible with nearly any system or combination of components. The company’s brands are On Controls for the professional installer market and iRule for Do it yourself users.
The iRule platform that began in 2009 has seen significant growth in the DIY control space, expanded to serve the professionally installed audio video and automation markets with the ON Controls brand and now continuing to expand into the commercial audio video markets.
About iRule: iRule transforms iPad, iPhone, iPod touch (or just say: iOS), and Android phones and tablets, already used by millions of consumers, into an intuitive remote control of Internet of Things devices. Using iRule is easy—the application is designed to deliver a user friendly experience with the ability to efficiently create a powerful, personalized interface. iRule is fully upgradeable to accommodate users’ evolving needs.
iRule is a software solution coupled with sophisticated yet compact hardware that controls any audio/video equipment and home automation, making it compatible with nearly any system or combination of components. iRule is also easily updated to control additional components or to migrate to the latest versions of smartphones and tablets, making it the last remote you’ll ever need. iRule is available from hundreds of integration professionals worldwide.
About Detroit Venture Partners: Detroit Venture Partners (DVP), www.detroitventurepartners.com, is a venture capital firm that invests in seed and early-stage technology companies with a strong emphasis on Detroit-based startups. In addition to capital, DVP provides hands-on coaching, mentorship, support, and resources to help drive growth and success. Founded in 2010 and led by Dan Gilbert and Brian Hermelin, the firm aims to create jobs, urban density, and hope by backing the next generation of Detroit entrepreneurs.