Denver Startup Notion Raises $10M Series A
Denver startup Notion has created a single sensor that can monitor your home in a variety of ways. Whether it’s water leaks, changes in temperature, cabinet doors opening and closing or an intruder walking through the living room, Notion has you covered. You can even have Notion let you know if the mail has arrived. Notion’s sensor allows you to monitor just about anything and everything. People are coming up with new ways to use Notion everyday.
The flexibility in the Notion platform is one of the things that investors are attracted to. That’s why this morning they’re announcing a $10M dollar series A round. That brings their total fundraising to $15 million dollars, since the company was founded in 2013. The company plans to use the funding to strengthen existing partnerships with insurance companies and to create new ones. The capital will also support product development and manufacturing, increased marketing efforts, and critical hires across the company’s engineering, data science and marketing departments.
“At Notion, it’s our mission to build products and services that give homeowners peace of mind and ultimately empower them to live better, more present lives. That’s what complete home awareness means to us,” said Brett Jurgens, Co-Founder and CEO of Notion. “This additional funding will allow us to amplify our relationships with insurance companies, and we’re excited to work alongside these partners to build more positive connections with homeowners and reward them with reduced insurance costs.”
Homeowners have plenty of options when it comes to home monitoring solutions, but most of them fall into two categories: traditional, expensive security companies that require a hefty monthly fee and long-term contract, or more complicated DIY solutions that are limited to a single use.
Notion’s low-cost and easy-to-install sensors pack eight capabilities into a single device. Each sensor is identical and multi-functional, which means homeowners can place them in different spots around their home depending on what they want to monitor. From doors opening and closing, to observing temperature, to detecting water leaks or a sounding alarm, Notion enables homeowners to customize notifications sent to their Android or iOS smartphone for peace of mind across their whole home. In the last year alone, the company has sent more than four million notifications and has saved homeowners across the country over half a million dollars in property damages.
In addition to leading the round, Mitch Kitamura, Managing Director at Draper Nexus, and Toshi Otani, Co-Founder and Managing Director at TransLink Capital, will join the Notion board of directors.
“Through purposeful insights and notifications, Notion is helping homeowners make more informed security, safety and maintenance decisions, ultimately transforming the relationship people have with their homes,” Kitamura said. “And for insurance providers, installing Notion in homes across the country is simultaneously transforming the relationships they have with their customers—creating an opportunity for them to positively engage with their policyholders, and receive unmatched access into the behaviors and activities happening inside those homes.”
“Looking at the automotive and healthcare industries, we’ve already seen the success of IoT devices disrupting insurance practices,” Otani adds. “We believe Notion has uniquely cracked the code to providing the necessary scale and granularity of data that property insurers need to reduce losses, define the characteristics of a safe property owner, and inform underwriting practices. We’re excited to work with Notion to materially change the way the insurance industry operates.”
You can find out more about Notion at getnotion.com