BeON Home continues growth with additional $2.9 million investment
Home security innovator, BeON Home, has announced that it secured $2.9 million in additional capital. The round was led by Jopeko 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 $5 million.
According to BeOn Home, it is expanding on the $13 billion home security market by bringing new layers of home protection to the industry. The BeON Home Protection system, includes everyday safety lighting, emergency lighting during power outages or smoke alarms and preventative home security with the intent of making it look like users are home when they are not.
"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,” Joseph Kolchinsky, managing director of Jopeko LLC, said in a statement.
“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."
The BeON home protection system is made up of BeON smart modules that fit inside corresponding LED light bulbs. BeON bulbs are made to provide 22 years of lighting without replacement.
"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," Alexei Erchak, CEO of BeON Home, said in a statement.
"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.