Global Technology Company Invests Into AI-Powered PropTech Platform
BETHESDA, MD — February 13, 2024 — Dwellwell Analytics (“Dwellwell”), creator of the first Check Engine Light for Homes service that offers unique sensing and diagnostic capabilities for the entire home, today announced that it has received an equity investment from Resideo Technologies (“Resideo”), a global manufacturer and developer of Honeywell Home smart thermostats and First Alert® solutions that provide home comfort, life safety and security to over 150 million homes.
“Our relationship with Resideo will play an important role in helping us expand in critical business areas and introduce Dwellwell to new audiences to fuel company growth,” said Dan Simpkins, Dwellwell Co-Founder and CEO. “We also look forward to collaborating with Resideo, a company with expertise in smart home technology and strong partner distribution channels.”
Dwellwell combines unique sensing technology, machine learning, and custom-designed AI, to digitize residential maintenance diagnostics. The unique solution helps take the guesswork out of maintenance for residential property owners and managers by identifying small maintenance issues before they escalate. Dwellwell technology is designed to enable users to proactively address repairs ‒ and eventually predict issues before they occur ‒ which can significantly reduce costs and avoid major system failures.
“Together with our network of smart home partners, Resideo is focused on helping its customers protect what matters most,” said Jeff Frank, SVP of Product Innovation for Resideo. “Dwellwell’s innovative product aligns with our mission and we’re motivated by the synergies that can help our customers simplify home ownership to maintain safer, more secure and efficient homes.”
Dwellwell is the first comprehensive Check Engine Light for Homes service. The powerful technology diagnoses and alerts residential property owners and managers to irregularities in the performance of an entire residential building, including HVAC, electrical, plumbing, and environmental concerns. The SaaS platform provides early detection of issues before they lead to system failure or devolve to catastrophic faults. Built by a team of seasoned tech entrepreneurs, Dwellwell proactively diagnoses issues across an entire building, helping multifamily and short-term rental owners streamline maintenance, generate cost savings, improve NOI, and ensure tenant comfort.