Deako Closes $4 Million in Financing Round | Deako Lighting

Deako Closes $4 Million in Financing Round

SEATTLE, May 29, 2018 (GLOBE NEWSWIRE) -- Deako, the Seattle-based smart lighting technology company, today announced the closing of its latest fundraising round. The Y-Combinator grad has raised an additional $4 million for a total of $15 million raised since it was founded just over 3 years ago. The funds will be used to grow Deako’s team, and for sales and marketing initiatives to expand the reach and awareness of Deako’s modular smart lighting technology for residential home builders.

Home buyers have increasingly been asking for smart technology pre-installed in their homes. Due to cost restrictions, home builders have only been able to offer smart lighting in one or two locations in the home. If ever that homeowner wanted to upgrade or expand their smart lighting in the future, it would require rewiring and a costly visit by an electrician.

“With Deako’s modular system, builders can offer the entire home - every single switch - already wired for smart lighting when the homeowner moves in. Deako’s modular system gives the ability to easily upgrade in seconds with a 'click-in' smart switch,” said Derek Richardson, Founder and CEO of Deako. “We’re getting a great response from home builders around the country, and looking forward to increasing our sales and marketing efforts to drive even greater awareness.”Deako’s modular system of easy-to-install back plates has created an affordable smart lighting system with no special wiring or hubs required. The patent-pending “click-in” back plates make the Deako product simple to install, and home builders are benefiting from the ability to offer upgrades to smart technology systems to home owners -- a key differentiator for them.

“Shea Homes is always trying to innovate; whether it be through our home designs, architectural styles, or the technology that goes into our homes. We are proud to be the first Phoenix-area builder to include Deako Smart Lighting. The response has been outstanding. People love Deako -- the modern, clean lines, and the easy to install and upgrade switches without having to call an electrician is extremely appealing,” said Ken Peterson, VP of Sales and Marketing, Shea Homes.

Whether home buyers purchase upgrades through Shea Homes or direct from Deako after moving in, it’s clear that Deako is offering a very desirable, forward thinking, consumer-centric and easy-to-use product. We’re proud to be a partner.

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.