When it Cyber-Rains, it Pours. Green Tech Co. Announces Round of Funding

AGOURA HILLS, Calif.--(BUSINESS WIRE)--Cyber-Rain, makers of a unique and easy-to-use smart sprinkler controller system, today announced an agreement with a group of current and new investors to provide Series A financing. The announcement comes amid soaring water prices and the need for better water conservation on the part of individuals and municipalities alike.

“This capital will help accelerate the already phenomenal growth we’ve seen our product experience over the last six months as watering costs continue to skyrocket. We’re excited to help consumers with their water conservation needs and allow them to keep more green on the ground, and in their pockets.”

The investment was led by Funk Ventures of Santa Monica, CA, a venture capital firm with an exclusive focus on socially-responsible companies. Other key investors include Momentum Venture Management of Pasadena, CA and various angel investors.

“There is an increased desire from consumers to live more sustainable lives,” says Andy Funk, Managing Director of Funk Ventures. “One of the biggest hurdles for consumers is the long amount of time it usually takes to recoup their investment in new technologies. Not only does Cyber-Rain offer a solution today for the water conservation needs of tomorrow, the implied water savings are often large enough to allow the unit to pay for itself in as little as 3-6 months.”

The Cyber-Rain XCI easily replaces a homeowner’s current sprinkler controller, giving users a convenient, simple way to save up to 70% off their monthly water bill while preventing run-off which can pollute waterways and streams. The smart controller always knows how much water to dispense since it downloads vital data such as precipitation, temperature and humidity from the Internet daily to adjust how much water to utilize that day.

With rebates of $60 to $700 offered in most states and water districts across the nation, getting a Cyber-Rain XCI is no longer a question of cost, but rather a question of how much a consumer is interested in saving.

“We’re very excited to be working with Funk Ventures and look forward to the future of Cyber-Rain with this round of funding,” said Reza Pourzia, CTO and Founder of Cyber-Rain. “This capital will help accelerate the already phenomenal growth we’ve seen our product experience over the last six months as watering costs continue to skyrocket. We’re excited to help consumers with their water conservation needs and allow them to keep more green on the ground, and in their pockets.”

About Cyber-Rain

Founded in 2005, Cyber-Rain is an emerging leader in providing groundbreaking smart sprinkler controller systems to the residential and commercial markets. For more information on the company and its products, please visit www.cyber-rain.com.

About Funk Ventures

Funk Ventures is a multi-faceted, entrepreneurial and socially-conscious investment firm with a focus on venture capital and business acceleration. As a leading pioneer in the purpose-driven investment community, the firm's philosophy is grounded in the belief that businesses can make a significant and positive contribution to people, society and the environment. The firm's venture capital arm makes value-added investments in promising socially-responsible companies in the health & wellness, medical technology and clean tech markets. Funk Ventures also operates a business accelerator focused on the same industry segments, providing resources, expertise and management to growing companies that are still too young to receive venture financing. For more information, visit www.funkventures.com or call [phone]. Funk Ventures is a registered trademark of Funk Ventures, Inc.

About Momentum Venture Management

Momentum Venture Management is a Los Angeles-based firm that provides executive leadership and initial financing to early-stage companies and assists those companies in raising additional institutional funds for growth. For more information, please visit www.mvmpartners.com.