A St. John’s company is doing what it can to bring smart thermostat technology to as many homes as possible, and investors like what they see.

Mysa announced yesterday that it has secured another $20-million in investment capital to help them grow the company.

The company says 98 per cent of the investment is coming from outside the province through Ontario and Quebec. Cycle Capital, Round13 Capital, and Climate Innovation Capital join existing partners BDC, Export Development Canada and Killick Capital in supporting Mysa’s expansion and development of new energy-efficient products.

Mysa co-founder and CEO Josh Green says they saw a niche in the market and are expanding on their product line.

He says their smart thermostats are unique in that they work for home heat sources like electric baseboard heating, in-floor heating and mini-split heat pumps.

Green says the company has come a long way in a short period of time. He says they’ve grown from a little local company with an idea and prototype, to more than $10-million in sales last year. He says the plan now is to expand beyond Canada and the U.S. to other international markets.

Green says the company plans to hire another 50 employees next year, and to double total staff to about 200 over the next few years.