IOT: The Future Of Home Monitoring; Notion Startup Raises Funds
It’s time to say Cheers to Cheese!
Founded by Brett Jurgens and Ryan Margoles, Notion is a Denver- based internet-of-things (IOT) startup. It monitors everything in your home and sends you a report through an app on your phone. Moreover, it uses sensors to alert you when something is going wrong, such as a home intrusion or water leak. The Notion units contain a sensor for everything, from light, acceleration, orientation to temperature, proximity, natural frequency and moisture.
Recently, Notion raised $3.2 million in venture funding from XL Innovate, a venture capital firm that specializes in Insurance, and Liberty Mutual Strategic Ventures. With these funds, Notion will move a step forward by using insurance companies as a distribution channel and promote the startup. The notion seems to receive a lot of interest from this community. It is reported that Notion already has 10,000 units targeted in the market. Thus, the interest of both, insurance companies as well as Notion can be catered.
In addition, the new funds will be used in increasing its number of employees to around 25-30 over the next year. Simultaneously, there are plans to expand itself on the Web as well as in the retail market to provide millions of homeowners peace of mind, savings and security. It is also trying to compete with its rivals such as Google’s Next by creating a complete system of smart sensors.
By developing a super intelligent and simple IoT solution for homeowners, Notion is changing the way this group experience technology and as well as transforming the insurance industry.
- The notion is a Denver- based internet-of-things (IOT) startup. It monitors everything in your home and sends you a report through an app on your phone.
- This Startup has raised $3.2 million in venture funding from XL Innovate, a venture capital firm and Liberty Mutual Strategic Ventures.
- With this fund, the startup is going to use insurance companies as a distribution channel and promote themselves.