Through the transaction, Nice will acquire 75 per cent of abode systems with the remaining stock held by abode founders.
Abode was founded in 2014 by former ADT executive Christopher Carney and launched on Kickstarter in 2015. The home security start-up combined professional-grade security with smart home features and a home automation engine to create a smart home security space. To date, abode has raised $2 million through crowdfunding and a seed funding round and has grown to over 15,000 users.
The Nice investment allows abode to expand to meet current demands and deliver new functionality to the platform and new form factors.
“abode was an early leader in the now well-defined do-it-yourself smart home security space and we’ve worked relentlessly with a grassroots approach to build a product that was simple, flexible, robust and always worked to keep our customers’ homes safe,” said Carney, CEO and co-founder. “The Nice group sees abode as an opportunity to leverage what we’ve built to grow their brands in North America and to allow us to expand and remain competitive as well as pursue global markets.”
Abode plans to continue to work on its product roadmap, including the summer release of iota, their gateway with built-in HD camera and HomeKit compatibility.