SNUPI Technologies snags $7.5 mln in Series A funds

SNUPI Technologies said Monday that it has closed $7.5 million in Series A funding. Washington Research Foundation Capital led the round with participation from Madrona Venture Group and various unnamed investors. Headquartered in Seattle, SNUPI Technologies is a provider of sensor networks and home health monitoring services.

PRESS RELEASE

January 13, 2014—SEATTLE, WA—SNUPI Technologies (www.wallyhome.com), a sensor and services company supporting the health of the connected home, today announced a Series A funding of $7.5 million. The company will use the capital to fund the roll-out of WallyHome, the company’s first product in the Wally line: an innovative wireless sensor network for the home. Funding was led by Washington Research Foundation Capital, with participation from Madrona Venture Group, as well as strategic and individual investors.
WallyHome tackles the problems of undetected leaks and undesired moisture in homes. According to the Insurance Information Institute, in 2011, 14 million homeowners suffered from damage due to water, freezing and mold, which resulted in $11 billion in property loss.
“We are pleased to receive backing from our investors as we take our product to market,” said CEO and co-founder Jeremy Jaech. “It’s been exciting for our team to bring this innovative communications and sensor technology out of the lab and into the consumer marketplace. Wally provides peace of mind to homeowners and solves a real problem using connected home technology.”
WallyHome is a comprehensive network solution that pairs a hub and six wireless sensors, which are placed near appliances or in hazard-prone spaces, to create a smart home platform. Homeowners and their alert contacts are notified instantly via email, text or push notification of water leaks, abnormal changes in temperature and humidity readings, or potential hazards, such as conditions for mold. Customers can access their WallyHome dashboard, available through the web and the Wally app, to view their current home conditions and trends over time.
“As the connectivity between people and their everyday things continues to flourish, consumers are becoming increasingly empowered to take action and even manage risk more effectively in their own environments,” said Tom Alberg, Managing Director at Madrona partner and SNUPI board member. Alberg has a long-standing relationship with SNUPI CEO and co-founder Jeremy Jaech, which began in the mid-90s when Alberg served on the board of Visio, a company Jaech founded and led. “Jeremy and his team have done a tremendous job taking technology from the labs of the University of Washington and Georgia Tech and applying it to a simple, powerful product that consumers can immediately use to make their home life more healthy.”
What really makes Wally stand out is its ultra-low power technology. Unlike most technologies, which require over-the-air wireless transmission to the base station, Wally uses the existing copper wiring in walls to communicate information between the sensors and its Hub. This technology allows Wally sensors to last for over ten years with no battery changes. Wally is easy to install, truly effortless to maintain and elegantly designed for the home. WallyHome is available for retail in March 2014, but it is officially available for preorder as of January 20th.
About SNUPI Technologies
SNUPI Technologies is a sensor and services company for the connected home. Its patented technology provides homeowners unsurpassed coverage and sensor longevity for environmental hazard protection. Our customers use our devices, in connection with our monitoring service, to discover and alert themselves when a harmful event occurs in their home. SNUPI (Sensor Network Utilizing Powerline Infrastructure) technology is an ultra-low-power, general-purpose wireless sensing platform that is easily used and maintained by leveraging the existing electrical wiring as a whole home antenna. The company is based in Seattle and was founded in 2012 by Jeremy Jaech and co-inventors of the underlying technology Professors Shwetak Patel and Matt Reynolds of the University of Washington, and University of Washington doctoral student Gabe Cohn. SNUPI Technologies has exclusive license of the underlying technology from the University of Washington and the Georgia Institute of Technology.

Related Posts

Leave a Reply

PEHUB Community

Join the 12503 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

PE HUB News Briefs

RSS Feed Widget

Marketplace

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget