abode systems, a Palo Alto, CA-based provider of do-it-yourself smart home security solutions, received a strategic investment from Nice S.p.A. (listed on the STAR Segment of Borsa Italiana), a global home and building automation company based in Oderzo, Italy.
Through the transaction, Nice will acquire 75% of abode systems with the remaining stock held by abode founders.
The investment allows abode to expand, pursue international distribution and continue product innovation.
Founded in 2014 by former ADT executive Christopher Carney and solar startup entrepreneur Brent Franks, Abode is a home security startup that combines professional-grade security with smart home features and a home automation engine to create a smart home security space.
Customers can choose on-demand short-term monitoring with no contract or commitment and abode offers support for virtually any smart home device on the market including Nest, Amazon Echo, the Google Assistant, ZigBee and Z-Wave.
To date, the company has raised $2m through crowdfunding and a seed funding round and has grown to over 15,000 users through organic reach and word of mouth.