Outcome Capital Advises Whisker Labs in the Sale of its Energy Management Business to Resideo Technologies
Outcome Capital, an investment banking firm that serves middle market growth companies in the technology and life sciences space, is pleased to announce that Whisker Labs, Inc. (the “Company”) has sold its Energy Management business to Resideo Technologies, Inc. (NYSE: REZI) (“Resideo”). Outcome Capital provided exclusive advisory services to the Company.
Based in Germantown, MD, Whisker Labs develops sensing and software technology for home intelligence. The Company’s energy management platform applies machine learning to reduce electricity demand during peak load times and to optimize thermostats for savings and comfort. The platform creates a thermodynamic model of a home as well as integrates with market-leading thermostat products to predict and optimize the energy used by residential HVAC systems. Whisker Labs manages over 100,000 thermostats across the United States, enabling retail energy providers to optimize procurement strategies, increase margins, and offer cost savings to their customers.
“Outcome Capital’s deal team led by Jonathan Wallace provided exceptional transactional support allowing us to achieve our corporate goal to monetize this part of our business,” said Bob Marshall, CEO of Whisker Labs.
The transaction expands Resideo’s smart-home comfort offering while helping Whisker Labs focus on the development of Ting™, its electrical fire-sensing technology.
About Outcome Capital
Outcome Capital is a unique investment banking firm that provides middle-market growth companies in the technology, aerospace & defense, government services, life sciences, and healthcare services markets with a value-added client-centric approach to merger, acquisition and corporate finance advisory services. The firm utilizes its proven approach to value enhancement by assisting boards and management teams in navigating both the financial and strategic markets and in implementing the best path for success. Outcome Capital’s strength stems from its unique ability to draw on its wide range of operational, strategic and transactional experience, its expertise across the value chain, and its broad industry relationships. The professionals at Outcome Capital take pride in their ability to help their clients to make well-informed strategic decisions and recognize the full value created by their vision.
About Whisker Labs
Based in Germantown, MD, Whisker Labs is a developer of advanced home intelligence technologies for fire safety. The firm’s Ting™ monitoring service alerts homeowners to electrical fire hazards with just one plug-in sensor that installs in minutes to protect the whole home. The sensor monitors the electrical network of the home at extremely high resolutions to detect the main precursors of electrical fires, micro-arcs, and sparks that develop in wires and cords. Ting’s™ enterprise dashboard provides a quick view of sensor status, potential fire hazards, fire safety performance, fleet statistics, and other key power quality metrics. When a fire hazard is detected, homeowners are notified by smartphone with instructions to mitigate the risk. The company is working with insurance providers, home service professionals, and other strategic partners to bring Ting™ to market.