Roost, a Sunnyvale, CA-based provider of a home telematics platform and products, closed a $10.4M Series B funding round.
The round was led by Aviva Ventures, with participation from Desjardins Insurance and Fosun RZ Capital and existing investors.
The company, which raised $17M in total funding, intends to use the capital to continue product development efforts as well as expand new product services for insurance partners.
Led by Roel Peeters, co-founder and CEO, Roost provides a home telematics platform for property insurance carriers is the creator of the Roost Smart Battery and the Roost Smart Water Leak and Freeze Detector solutions.
The company’s primary go-to-market approach is through Insurance companies deploying directly to their policyholders, which results in claim cost expenses (fire and water perils costing $20B per year in the US), as well as driving policyholder engagement through a digital mobile app experience, impacting retention and customer acquisition.