Cambridge-based start-up AlertMe has raised £5 million in its first round of funding from US hedge fund Tudor Investment. The money raised will be used on R&D, developing the company’s brand and establishing partnerships.

Cambridge-based start-up AlertMe has raised £5 million in its first round of funding from US hedge fund Tudor Investment. The money raised will be used on R&D, developing the company’s brand and establishing partnership.

The company has been founded by serial entrepreneurs Adrian Critchlow and Pilgrim Beart. Critchlow was behind Active Hotels, which was sold to Priceline for £90 million, and Beart has founded three start-ups and has 20 years’ experience in building technology companies.

AlertMe will be launching a home security offering, using internet and mobile technology to connect people with their homes and alert them immediately to any unauthorised entry or fire. It will begin trialing the offering with customers in the Cambridge area in the next few months, prior to a national roll-out in the second half of 2007.

The company worked with Cambridge-based Green & Green on the legal side, while Deloitte provided financial advice.