I Can HaaS Security?
Smart home security startup Angee has pivoted its business model to HaaS–or Hardware as a Service– declining to charge customers its formerly publicized MSRP of $349 for the Angee device and $89 for Angee smart tags. Rather, after a $24.99 activation fee, customers receive both devices plus unlimited cloud storage for $17.99 per month. The product/service performs like an Arlo Pro, SimpliSafe or Honeywell DIY camera base station, but does not charge a fee for saving or playing back video. Is it possible we might see more in the home security market?
Angee was launched in a crowdfunding campaign in 2015, and its move to HaaS was announced just this month with the public availability of its long-awaited first product. Over two years ago, venture capital firm, Point Nine Capital developed its HaaS investment thesis and announced it had already invested in two companies built upon the HaaS model.
Residio to Debut on NYSE
Residio, which spun out from tech giant Honeywell, becomes an independent, NYSE-traded company focused entirely on the smart home security sector. Resido, which begins trading today under the ticker REZI, offers DIY and Professional Install offerings as well as control of ADI, the industry’s largest distributor of security and low-voltage (read smart home) products.
Honeywell’s stock has taken a beating recently, but analysts say its impressive third-quarter earnings show the company might be pulling out of its recent slump. It will be interesting to see how REZI, which finished up its stretch on the Nasdaq trading at $27.85 per share on Friday, will fare next week.
Amazon’s Latest Smart Home Play
Amazon has been making moves into the smart home space over the last few years, acquiring smart doorbell and security companies Ring and Blink. The tech behemoth has also backed smart thermostat maker Ecobee through its Amazon Alexa Fund investing vehicle. Amazon has most recently joined with E.ON, Total Energy Ventures, Energy Innovation Capital, Inven Capital, and the European Investment Bank to put $50 million into German smart thermostat and AC control developer Tado.
Tado enables consumers to connect their homes’ central heating or air conditioning to the internet so it can be controlled with a smartphone, and also offers geo-location and other features that detect when residents are leaving or coming home, when the weather is changing, or when windows left open.
J.D. Power Finds Consumers Happier When Home Security Gets Smarter
A recent study from J.D. Power has found that consumers are happier with their home security systems as they grow increasingly integrated with Internet-connected smart home technology.
The J.D. Power 2018 Home Security Satisfaction Study found that overall customer satisfaction with home security systems is 834 on a 1,000 point scale, which represents an increase of 3 points over last year and makes home security the fourth highest rated industry tested by J.D. Power this year.
“Sleek touch-screen control panels and the ability to operate the system through mobile devices have become the two most popular home security system interfaces for consumers and they are playing a key role in driving higher levels of customer satisfaction because they simplify the use of the system,” the report said.