Utah-based smart home solutions innovator, OliverIQ, has successfully concluded a new funding round, securing $5.85 million. This latest venture round signifies the company’s ongoing advancement in the smart home technology sector, bringing its total funding to $13.1 million across two rounds.
The funding details were revealed through an SEC Form D filing on February 9, highlighting OliverIQ’s commitment to transparent and regulatory-compliant fundraising practices. This recent capital injection will further drive the development and expansion of OliverIQ’s platform, which remains at the forefront of managing the connected home ecosystem.
Established in 2020 by Eric Smith and Will West, OliverIQ’s platform distinguishes itself by offering Smart Home As a Service (SHaaS), providing consumers and installers with a unified application for seamless integration, control, and management of various smart home devices. This approach not only simplifies the user experience but also creates new opportunities for in-home service providers to engage with and deliver value to customers in the rapidly expanding connected home market.
The company’s innovative platform caters to the growing demand for comprehensive smart home solutions, empowering leading in-home service providers to offer, service, and deliver cutting-edge solutions within connected homes. OliverIQ’s focus on ease of integration and management addresses a critical market need, as consumers increasingly seek streamlined and efficient ways to manage their smart home ecosystems.
OliverIQ’s recent funding round reflects early investor confidence in the smart home technology landscape, highlighting the potential for SHaaS platforms like OliverIQ to capture significant market share by providing differentiated and high-demand solutions in the connected home sector.
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By Proptechbuzz
By Ravi Kumar