OliverIQ Secures $5.85M in Venture Funding to Enhance Connected Home Management

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OliverIQ, a Utah-based innovator in smart home solutions, has successfully completed a new funding round, raising $5.85 million. This venture round marks the company's continued growth in the smart home technology sector, bringing its total funding to $13.1 million across two rounds.

The funding was disclosed through an SEC Form D filing on February 9, emphasizing the transparent and regulatory-compliant nature of OliverIQ's fundraising efforts. This latest capital infusion is set to further fuel the development and expansion of OliverIQ's platform, which stands at the forefront of managing the connected home ecosystem.

Founded in 2020 by Eric Smith and Will West, OliverIQ's platform distinguishes itself by offering Smart Home As a Service (SHaaS), providing consumers and installers with a unified application to seamlessly integrate, control, and manage a wide array of smart home devices. This approach not only simplifies the user experience but also opens up new avenues for in-home service providers to engage with and deliver value to customers in the rapidly growing connected home market.

The company's innovative platform caters to the increasing demand for comprehensive smart home solutions, enabling leading in-home service providers to offer, service, and deliver cutting-edge solutions within connected homes. OliverIQ's emphasis on ease of integration and management addresses a critical need in the market, where consumers seek streamlined and efficient ways to manage their smart home ecosystems.

OliverIQ's recent funding round signals initial investor confidence in the smart home technology space. It underscores the potential for SHaaS platforms like OliverIQ to capture significant market share by offering differentiated and high-demand solutions in the connected home sector.