Digitech Venture Capital Fund (Digitech) has made its first venture capital investment in Texas startup SmartHome Hero.
SmartHome Hero is a home resource management (HRM) platform that delivers streamlined warranty management and repair service for homeowners while providing a digital advertising platform for builders, smart home products and manufacturers. Consumers gain improved home automation, energy savings, and home resale value.
Digitech, with its first close in Q4 2015, has wasted no time identifying quality technology deals. With offices in Houston and Austin, and a solid network of East and West coast funds, Digitech will leverage a team of incubators, accelerators, and university technology transfer offices to commercialise tomorrow’s technology.
“I’ve been on both sides of investments from prestigious PE funds, to lesser known angel groups and VC funds,” says Paul C Watson, Digitech’s CEO. “There’s a strong need for a hands-on, roll up your sleeves attitude in today’s 'crowdfunding' mindset. Our focus is to be pragmatic, be active investors and align ourselves with industry specialists to fuel portfolio growth.”
Watson has tracked SmartHome since the Texas Venture Growth Forum (TXVGF) last October and its team has tremendous industry experience and a scalable product that leads to customer loyalty. SmartHome Hero’s soft launch and demo of its SaaS platform will be at the Builders Digital Experience (BDX) Summit in Austin this April.
“We believe SmartHome will enhance the home buying as well as the living experience for homeowners. Simplifying warranty and service has needed to be addressed for some time. This is a huge leap in the right direction,” says Mike Bartleman, VP Operations, Beazer Homes.
“We are excited to have Digitech take a leading role in our seed round. Our goal is to raise USD750K in convertible notes before Q3 while ramping users and adding new features prior to launching our Series A round later this year,” says David Carolan, CEO, SmartHome Hero.
