Deako raises $12.5m to develop smart light switches

  • March 22, 2021
  • Steve Rogerson

Seattle-based smart home start-up Deako Lighting has raised $12.5m in a series-B financing round.

Deako plug-and-play light switches, contracted to be installed into one out of every eight new single-family homes built in the USA, are becoming adopted by home builders as a standard in home construction. To date, the company has raised $36m in funding. 

Deako will use the new capital to add distribution partners, increase production capacity, and expand its array of plug-and-play light switch products to meet the needs of multi-family and custom home builders.

“Deako has secured exclusive supply agreements from high-volume home builders to include our light switches in every home they build,” said Deako CEO Derek Richardson. “With commitments to be installed in one out of eight new single-family homes, Deako is experiencing unprecedented growth. These agreements are driving double-digit monthly compound revenue growth, while adding two new markets weekly.”

Deako, now with six different manufacturing partners in three countries, projects production capacity to grow by more than 400% by the end of the year, with continued similar growth in 2022.

Deako makes both simple and smart plug-and-play switches that can be changed within seconds by anyone, without hiring an electrician. Low cost, the switches are affordable enough that any builder can include them as standard throughout a house.

With a variety of personalised options, the switches serve the needs of a broad spectrum of homebuyers looking to add dimmers or smart switches, or create a whole-home smart lighting experience.

Using the switches, lights can be set with one touch or voice command. Schedules can be set to turn lights on, off or dim at the same times and days. Lights can be programmed to switch off after a set time, which is handy for say lights in closets the owner may forget to switch off before closing the closet door. Lights can be grouped so entire rooms can be controlled through the Deako app or voice command. And lights can be accessed and controlled from anywhere in the world.

“We’ve had overwhelming interest from electricians looking to buy and install Deako and are adding approximately ten new electricians per week across the country,” said Wes Nicol, Deako chief operating officer. “To meet the need, we have expanded our distribution presence nationally.”