Roost, a Sunnyvale, CA-based smart home technology, raised $5.5M in Series A funding.
The round was led by RPM Ventures with participation from a subsidiary of financial services provider USAA, existing investor DCM Ventures as well as specialty Internet of Things (IoT) funds, Center Electric and StartGarden. In conjunction with the funding, Adam Boyden from RPM Ventures joined Roost’s Board of Directors.
The company intends to use the funds to grow operations and strengthen its executive team. It has hired:
– Jim Van Patten as Vice President Operations, and
– Richard Stark as Vice President, Enterprise Sales.
Led by Roel Peeters, CEO and co-founder, Roost has developed the Roost Smart Battery for smoke alarms, which, along with a free mobile app, transforms existing home smoke and CO alarms into smart alarms that notify users when the battery needs to be replaced.
With a 5-year battery life, the Roost Smart Battery is available for pre-order on at Amazon.com and www.getroost.com for $34.99.
FinSMEs
04/09/2015