Revolv Receives $4M in Funding Led by The Foundry Group

By Anil Sharma
TMCnet Contributor

Revolv Inc., the smart home solution that unifies premium smart home automation devices from one iOS app, has secured a $4 million investment led by The Foundry Group with participation from American Family Insurance and several existing investors.

The company plans to use the funds for market expansion and product development.

In September 2012, Revolv received $2.7 million in seed funding.

“After receiving such positive responses from customers with our initial shipments earlier this month, we are very excited to continue the momentum and drive further market adoption of Revolv,” said Tim Enwall, CEO of Revolv.

Enwall said that this latest round of funding will help the company to further meet consumer demands to provide a unifying and simple solution to make its smart home technology even smarter.

“We are very proud to be working with The Foundry Group, a top-ranked and entrepreneur-friendly venture firm,” he said.

Ryan McIntyre, managing director, The Foundry Group said that it is very impressive what the Revolv team has accomplished in getting the product to market in a short timeframe and with seed funding.

“The global smart home market is projected to grow to over $9.2 billion by 2017 and we believe Revolv’s unifying solution has what it takes to be successful in the market,” said McIntyre.

Recently, Revolv announced that it has begun shipping its highly anticipated Smart Home Solution to its pre-order customers. The Revolv Smart Home Solution unifies off-the-shelf smart home automation devices such as the Sonos HiFi wireless speakers, Philips (News - Alert) Hue wireless lighting, Yale automated locks, Insteon home control devices, Belkin WeMo and popular automated thermostats.

With the Revolv Smart Home Solution, consumers have the freedom to mix and match wireless devices and appliances in their home to achieve a new level of lifestyle automation right from their smartphone.

Revolv automates daily life routines around time, GPS proximity, sensor triggers such as motion in the home, and on-demand commands set by the user. Its proprietary GeoSense technology automatically activates connected devices when users reach a certain geo-radius to and from their home.