Redwood City, CA: Startup firm EcoFactor has unveiled a software that gathers data from a two way thermostat and then analyzes that information to optimize heating and cooling systems, which often account for about half of home electricity use.

The Silicon Valley-based company has announced that the largest utility in Texas, Oncor, has signed on with EcoFactor's residential energy-management service for three years, according to CNET News. Though, there are several firms developing web-based software or displays to show consumers how much energy they are using, the EcoFactor's software works behind the scenes by gathering data that can optimize energy use.

Collecting thousands of pieces of information a day helps create a picture of a home's 'thermal characteristics' and makes heating and cooling systems run 20-30 percent more efficiently, said Scott Hublou, the company's Senior Vice President of Products and Co-Founder. Even homeowners who have programmed thermostats can benefit, because the analysis is customized for a single home, he added.

To use the service, consumers need to have a two-way thermostat that can send data over a home broadband connection to EcoFactor's hosted application, which is written on the open-source LAMP stack. EcoFactor plans to offer the service through business partners, including utilities. There are also a number of service providers, notably telecom operators and cable companies, which are looking to offer home energy-management services to existing customers.

EcoFactor, which was founded three years ago, is funded by angel investors. The company is, now, in the process of trying to raise a series A round of venture capital funding.