SOURCE: Deako, Inc.

July 01, 2016 08:07 ET

Smart Lighting Technology Start-Up Deako Closes Third Financing Round

$3.5 Million Raise Fuels New User Interface and Beta Roll-Out

SEATTLE, WA--(Marketwired - July 01, 2016) - Deako (www.deako.com), the Seattle-based smart lighting technology start-up focused on revolutionary intelligent lighting systems, today announced the closing of its third fundraising round. The Y-Combinator grad has raised an additional $3.5 million for a total of $6.8 million closed within the last 8 months. The funds will be used to fuel its updated user interface and beta program starting in September.

Deako sought out to create smart lighting that was accessible to everyone. While other technology has evolved and improved lives in countless ways, most light switches haven't really changed much over the last 100 years. Before Deako, getting the benefits of whole home smart lighting would often cost as much as a nice sports car. Deako has changed that, creating an affordable smart lighting system with no special wiring or hubs required. When used together as part of a whole home system, Deako's beautiful, touch screen smart light switches can each control one light, groups of lights or all of the lights in a home with a simple tap of a switch. This scene controlling feature had traditionally been offered only in high-end systems and usually only placed in select areas of the home due to high cost and complex wiring. All Deako Smart Switches include an elegant touch interface, timer and nightlight options and work with Android and iOS devices. The patent-pending "click-in" backplates make the Deako products simple to install and upgrade in seconds enabling customers to future proof their investment as new technology becomes available, or upgrade from our entry-level switches in seconds.

"We are very excited to see the momentum at Deako, and are proud that investors are recognizing the potential of our innovations. We will now leverage this fundraising round to launch our sleek new user interface and the public beta of our product," said Derek Richardson, Founder and CEO of Deako. "We believe that Deako's technology is going to redefine what people expect from their home lighting, which until now has too often been stuck in the last century. We're now ready to demonstrate the results of all of the Deako team's hard work and bring affordable smart home lighting to homeowners."

The limited beta is slated to begin in September. Individual and homebuilding customers are invited to apply for the beta at www.deako.com/beta. Deako already has signed contracts to go in just under 10 percent of the new homes being built in the Seattle area next year. Check Deako out at the Sunbelt Builders Show in Grapevine Texas, booth 209, and on the Smart Home Tech Panel on August 4th 2016. http://www.sunbeltbuildersshow.com/schedule-events.

About Deako

Like most great inventions, Deako was founded out of a simple need. The need for whole home connected lighting to function well, look terrific and not cost a fortune. After researching and living with partial solutions, Deako set about making the idea into a tangible reality. So, Deako was born and it has been lighting up eyes and homes ever since. For more information about Deako, please visit www.deako.com and follow us on Facebook at @deakolights and Twitter at @godeako.

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