As many may already know, Alarm.com filed for an IPO late last week.
If you're not familiar with the company, you should be. Like Icontrol, they've basically helped usher in the modern managed connected security and smart home services market in the US. Alarm.com sits behind many popular consumer facing security and smart home offerings like those from FrontPoint.
It's a milestone for the smart home industry. After Control4, Alarm.com would be the second pure-play smart home (and security) company. Also, in a way, it's the first of what could be more companies over the next few years going public that are focused on reinventing the home security market.
It's also going to be interesting to see if Icontrol follows suit. The Alarm.com competitor has been aggressively expanding into DIY and the direct-to-dealer channel market this past year, moving beyond its mainstay businesses of providing platform services to both cable and security players, and like Alarm.com I think the timing might be ripe to move since the market is changing quickly. They added a CFO last year with IPO experience under his belt, often a sign of a company's IPO wishes and caviar dreams.
Lastly, I am intrigued to see what Alarm.com has up its sleeve going forward from a business strategy perspective. In the filing, the company talked about its forward looking strategies, and this one in particular was interesting to me:
Expand Channels into the Home: Today, most consumers purchase a connected home solution through a security or home automation service provider. As the connected home market continues to grow we believe other home services providers, such as heating, ventilation and air conditioning installers, property management companies and other services companies will be valuable complements to our current security service provider network.
I would be interested to see how Alarm.com could possibly be a backend platform for other home systems such as HVAC. I also do think the apartment and multifamily unit market is a big underserved market for managed smart home, and it looks like Alarm.com might agree.
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