OneEvent Raises $700K To Make Building-Monitoring Devices Smarter

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might use data gathered by the software to “look back in time” and determine whether a property that suffered a fire or water damage was at risk for such an event beforehand. The company’s interest in insurers highlights the link between that industry and the “Internet of Things” movement—to which OneEvent belongs—which is seeing formerly offline devices begin to connect to the Web and to each other.

Wedig says residential customers should expect to pay, on average, about $300 for installation and hardware–OneEvent’s starter kit includes a smoke detector and two additional sensors, as well as a transmission box for data transfer. OneEvent vice president Michael Schultz says it will likely cost about $23 a month to use the software, but the total could be higher for larger floor plans that require more than three sensors. [This paragraph has been updated to reflect that OneEvent anticipates it will charge residential customers $11 a month to use the transmission box it co-developed with Novatel Wireless, in addition to a monthly service cost of $4 per sensor.]

Even though OneEvent doesn’t plan to sell directly to consumers initially, Wedig says it is developing a smartphone app that would alert those who own or rent properties where the software is installed that something is amiss.

Alphabet subsidiary Nest Labs, which is best known for its smart thermostat that also functions as an Internet of Things hub, itself makes a connected smoke and carbon monoxide detector. Nest appears to be most interested in selling straight to individuals, but in October it helped fund $50,000 in grants to fire departments “for new technology and equipment,” according to a press release. That could be a hint that the company will configure its devices to share the data they’ve collected with first responders, similar to OneEvent’s vision.

Wedig says that OneEvent has been granted five patents, and had another 15 pending, which might help it guard against the competition.

Currently, OneEvent has 10 employees and plans to add six more during the coming months, Wedig says.

Looking ahead, does the startup inspired by a search for an exit envision having one itself?

Yes, says Wedig. “We look at most [competitors] as potential acquirers,” he says. “We feel that one of the larger players will come in and make a purchase at some point. It could be Honeywell, Samsung, Google, Apple, Emerson [Electric], anything tied to those sectors. There’s so many players out there.”

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