We’ve received a lot of questions about our equity crowdfunding campaign, which has been live now for a couple months. A lot of these questions have centered around our valuation, so I wanted to put together a blog post where I can take some time to do a deep dive.
The global Smart Home industry totaled $158 billion in 2018, and is expected to grow to $262.6 billion by 2025. Our segment of the smart home industry is still in its infancy. The smart shade market totaled $162 million in 2019 but is projected to grow to nearly $1.5 billion by 2024.
Over the last decade or so, numerous smart home startups have raised significant capital in their Series A phase:
During their financing rounds, these companies’ valuations were projected anywhere from the tens of millions to the billions:
And as the smart home industry has matured, the market has seen some really big exits, with numerous acquisitions by giant tech companies. Assay Abloy acquired August Lock. Google acquired DropCam for $550 million and Nest for a whopping $3.2 billion. And Amazon has been on a tear lately, having acquired Blink for $90 million, and more recently Ring for $1.2 billion.
We’ve raised over $4.5 million in financing to date from some really great investors. While we’re raising capital through ordinary investors like yourself, we’ll also continue to collaborate with the VC funds, incubators, tech accelerators, and angels that will help provide the resources and advisory services we’ll need to continually level up as a business.
We’re so excited to be building a team of investors and we want you to take part. Remember – if you invest more than $2,500, you’ll receive a complimentary SmartShade. And there are of course more substantial product perks for larger investments.