Virtual Facility, provider of machine learning and automation management of alarms and maintenance work orders for the built world, announced it closed a $9 million seed round of funding from lead investor Camber Creek, with participation from existing investors Primary and Ubiquity Ventures.
The global smoke alarms market was valued at $1.8 million in 2019 and is expected to surpass $3.3 million by 2027, according to a report by Coherent Market Insights.
Traditional security and the smart home are the same. There — I’ve said it. Our industry likes to see them as different, but for someone growing up now, without any preconceptions of alarm systems, they all just look like a lot of gadgets for the home. So what does this mean for the smart home and traditional alarm monitoring?
The COVID-19 pandemic presents numerous unprecedented challenges to the monitoring industry and those with a stake in the protection services it provides. Not the least of these is operating in a regulated environment, under standards that did not fully anticipate the impact of public health mitigations.
Many years ago I reported on a case decided in California. Fireman’s Fund had paid various claims for burglary or fire losses and filed a lawsuit against alarm companies that had contracts with the plaintiff`s insureds, claiming subrogation to losses arising from property damage incidents sustained by insureds.