Resideo Technologies Invests in Smart Monitoring/Analytics Platform DwellWell
Smart security manufacturer Resideo makes undisclosed equity investment in smart monitoring and analytics platform DwellWell.
Image courtesy of DwellWell.
BETHESDA, Md. — After breaking onto the smart home scene in 2022 as a start-up, monitoring platform DwellWell is making headlines again as it has just recently received a sizeable equity investment for home security manufacturer Resideo Technologies.
“Our relationship with Resideo will play an important role in helping us expand in critical business areas and introduce Dwellwell to new audiences to fuel company growth,” says Dan Simpkins, Dwellwell co-founder and CEO, in the joint announcement.
“We also look forward to collaborating with Resideo, a company with expertise in smart home technology and strong partner distribution channels,” he says.
Founded in 2018, the data and analytics platform is described as a “Check Engine Light for Homes” by the company, catering to both homeowners as well as property managers with the goal of identifying small maintenance issues in advance before they need to escalate.
According to the company, the DwellWell platform uses a combination of sensors, machine learning and custom-built AI programs to help keep track of a home’s internal systems, such as plumbing, electricity and HVAC.
The platform also delivers a sizeable overview of a home’s environment that includes insight into temperature, CO presence and humidity.
For property managers, DwellWell touts itself as being able to provide 24/7 monitoring access across a multitude of properties under the manager’s portfolio.
Other Resideo Investments in the Smart Home
The investment by Resideo comes a full year after the company acquired smoke detector manufacturer First Alert in a move to further expand both its residential and commercial offerings.
Well known within the residential space for its multiple smart home offerings including its Honeywell Home smart thermostats, Resideo has also long catered to the commercial and resimercial sectors through its ADI distribution arm.
In a press release on the matter, Jeff Frank, senior vice president of product innovation for Resideo said the company was “motivated by the synergies” that DwellWell’s offering has with the company’s own goals of home security, regarding the investment.
In its quarterly financial statements, Resideo admitted to a waning demand in the residential security category and slower professional work in the residential sector as a whole.
As SSI sister publication CE Pro has found, however, the MDU market continues to thrive in part to its greater affordability for consumers who have been priced out of the nearly frozen housing market.
Recent numbers have also revealed that in a large number of states, the cost of owning a home now far exceeds the cost of renting an apartment, adding greater strength to the types of properties that DwellWell’s platform is being marketed towards.
The original version of this post appeared on SSI’s sister publication, CE Pro.
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