IOTAS, Inc.

IOTAS, Inc. specializes in advanced smart technology solutions for multifamily residential buildings, enhancing connectivity and automation to enrich the living experience for residents. Founded in 2014 and headquartered in Portland, US, IOTAS, Inc. develops technology for smart living.

The company has successfully raised a total of USD 8. 50 mn through its Series A funding round, led by TELUS Ventures, with participation from Intel Capital and Liberty Global Plc. The latest funding round took place on June 13, 2022, highlighting the strong interest from investors in smart living solutions. IOTAS provides advanced smart technology solutions tailored for multifamily residential buildings, including smart locks, intelligent lighting systems, smart thermostats, and leak detection devices.

These products are controlled through a user-friendly mobile application, allowing residents in urban markets such as New York City, Los Angeles, and Chicago to manage their homes remotely. IOTAS integrates with property management systems like Yardi and RealPage, streamlining operations for property managers while delivering energy-efficient living environments. IOTAS generates revenue through a subscription-based model in partnership with property management firms. Their tailored smart technology packages include installation, ongoing support, and system upgrades, enabling both B2B engagement and direct consumer interaction.

Revenue is driven by specific packages chosen by clients, focusing on high-quality, energy-efficient solutions that enhance tenant retention and property value. In June 2022, IOTAS, Inc. was acquired by ADT LLC, marking a significant step in its growth strategy. The recent investments will be directed toward developing new smart technology products and expanding into additional urban markets across North America.

As part of this initiative, IOTAS aims to introduce enhanced solutions by 2023, leveraging the resources and expertise of ADT to bolster their market presence.