What is Deako?
Deako is an innovative technology company that emerged from a direct response to challenges faced by home builders in integrating smart home technology. Founded on the principle of simplifying smart home installations, Deako developed a modular light switch system designed for ease of use, installation, and maintenance. This approach addresses the common builder reluctance to adopt smart home features due to concerns over installation complexity, support, and warranty issues. By offering a streamlined solution, Deako empowers builders to offer smart home capabilities to their clients without the traditional overhead, making advanced home automation more accessible and practical for new constructions.
How much funding has Deako raised?
Deako has raised a total of $47.2M across 9 funding rounds:
Private Equity
$2M
Multiple Rounds
$12.1M
Unspecified
$2.1M
Series A
$4.8M
Debt
$350K
Series B
$12.5M
Unspecified
$13.4M
Private Equity (2015): $2M, investors not publicly disclosed
Unspecified (2016): $1.8M led by Y Combinator
Private Equity (2016): $6.8M, investors not publicly disclosed
Series C (2016): $3.5M, investors not publicly disclosed
Unspecified (2017): $2.1M, investors not publicly disclosed
Series A (2018): $4.8M with participation from not disclosed
Debt (2020): $350K led by PPP
Series B (2021): $12.5M, investors not publicly disclosed
Unspecified (2022): $13.4M, investors not publicly disclosed
Key Investors in Deako
Y Combinator
Y Combinator is a renowned startup accelerator that provides seed funding and mentorship to early-stage companies, known for its role in nurturing successful tech ventures.
What's next for Deako?
With the recent influx of major strategic investment, Deako is poised for significant growth and market penetration. The company's focus on simplifying smart home technology for builders positions it advantageously in a rapidly evolving market. Future endeavors will likely involve expanding its product line, enhancing its platform's capabilities, and forging stronger partnerships within the construction industry. This strategic financing will be instrumental in scaling operations, bolstering research and development, and solidifying Deako's position as a leader in accessible smart home solutions.
See full Deako company page
