BeON Home, Home Security Innovator, Continues Growth with an Additional $2.9 Million Investment
Financing will expand BeON's market lead, enable new platform integrations and meet the growing demand for accessible home security and safety.
CAMBRIDGE, Mass., Feb. 4, 2016 /PRNewswire/ -- BeON Home, creator of the first Bluetooth Smart-enabled home protection system that provides preventative security and emergency lighting, today announced it has secured $2.9M in additional capital. The round was led by Jopeko, LLC and included continued participation from existing investors and multiple new investors. The investment will accelerate BeON's growth and expand its product line. This funding brings BeON's total investment to date to nearly $5M.
"All too often, smart-home technology ignores one of two basic premises: practical functionality or a simple user experience. When a product addresses both concepts it is free from early adopter limitations and has the potential to change paradigms. The BeON Home Protection system is one of the only smart-home products we've seen that does this, and as a result it addresses a mass-market need. They've hidden two of the most requested features for any smart home – security and safety – inside an energy efficient LED bulb that anyone can use and understand. We're excited about future products from BeON that apply that same simple design philosophy," said Joseph Kolchinsky, managing director of Jopeko LLC.
BeON Home expands the $13B home security market by bringing new layers of home protection to the industry. The company's first product, the BeON Home Protection system, includes everyday safety lighting, emergency lighting during power outages or smoke alarms and preventative home security that makes it look like you're home, even when you're not. The BeON home protection system is made up of BeON smart modules that fit inside corresponding LED light bulbs. The BeON bulbs provide 22 years of efficient lighting and energy savings that pay for the system over time; and because the smart technology is in the replaceable module, the bulb itself never needs to be replaced.
"Lighting is a critical part of any home protection system. For example, right now your home is the only place without emergency lighting – you have it in schools, stores and offices – literally everywhere except where you need it most. Advanced lighting usually comes with a price tag reserved for expensive, professionally installed lighting systems. We're making security and safety lighting simple, accessible, and affordable for anyone," said Alexei Erchak, CEO of BeON Home. "This funding will help BeON accelerate in bringing new types of safety and security to even more people's homes."
BeON recently announced expanded availability and compatibility with international shipping, an Android mobile app, and retail presence on Amazon. Additional platform integrations and product developments are on BeON's roadmap for 2016 to enhance preventative security and safety functionality even further.
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SOURCE BeON Home