Honeywell to Debut DIY Security System on Indegogo
"A new era of home security is about to begin," Honeywell's email stated to their existing customers.
The 111-year-old, $109 billion market capitalization company is taking their 'all-in-one' DIY system to the popular crowdfunding website Indiegogo in an otherwise unconventional move to fund their newest venture. Although details are vague right now, Honeywell has made it clear that the product will fall squarely into a DIY security system space, available on November 1.
Historically, Honeywell has danced the line between DIFM and professional integration, although most products rely on the latter. Their long portfolio of products includes standalone thermostats and security cameras, as well as the dealer-friendly Lyric security system. The slated home security system falls squarely in the DIY space, lending itself to a generation of self-installed, self-monitored security kits that will likely compete with companies like Ring, Nest, or Canary, a first for the manufacturer.
So what is Honeywell doing on Indegogo? Just agreeing to an offer they can't refuse from one of the top crowdsourcing companies in the game. Indegogo has made it well known that they don't just want niche gadgets and remote controlled luggage, they want heavyweight manufacturers to put their next project on their platform - which GE, Sony, Anker, and even Atari have obliged.
Indegogo has been courting companies as a sales platform, but that doesn't explain why Honeywell - a group very familiar with funding their own ventures - has turned to crowdfunding. It's possible that the platform could build hype and with the unfamiliar territory, or it could be that Honeywell wants the engagement that comes with a millennial-focused stage.
As of now, the only thing we know about the project is that it will be a security system with a camera - with a full launch in just a few weeks.