Notion, one of the pioneers of the IoT home awareness system, has secured $3.2 million in seed funding from XL Innovate,
Liberty Mutual Strategic Ventures, and other investors. The funding will be used to grow its business to provide homeowners with an elegant and cost-effective home IoT solution.
As part of the funding deal, Martha Notaras, a partner at XL Innovate, will join the Notion board of directors.
Notion’s home monitoring system uses multi-function sensors to detect doors or windows opening, water leaks, temperature changes, smoke alarms going off and more. The system can be set up in five minutes and alerts homeowners via a mobile app. The system is available on both iOS and Android platforms.
"By bringing a super smart and simple IoT solution to homeowners, Notion can change both a homeowner's experience as well as transform the property insurance industry," said Martha Notaras, partner at XL Innovate. "Simple, reliable sensors that are easily deployed and capable of capturing relevant data can lead to a significant prevention of property damage. Homeowners benefit by having 24/7 insight into the health of their home and insurers can offer loss reduction initiatives. It's a win-win."
Notion is based in Denver, Colorado and its products are being sold in the US, Canada and parts of Europe.
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