In late 2012, the Blackstone Group, a global investment firm, reached a deal worth nearly $2 billion with Provo, Utah-based Vivint that would enable it to own over 50 percent of the premiere home automation company — and offer Vivint the resources it needs to grow into its bright future as a leader in the home automation industry.
According to the New York Times, the deal is “aimed at helping Vivint continue its growth as a major provider of automated home services.”
And grow it has. Vivint, formerly APX Alarm Security Solutions, was founded in 1999 by current CEO Todd Pedersen. The company installed over 900 systems its first summer (as APX Alarm), and in 2006, it accepted funding from several private equity companies, including Goldman Sachs, to provide more support and customer service.
In February of 2011, these early efforts came to fruition with the founding of Vivint, a company that meets challenges every day in home automation. Todd Pedersen and his staff not only work competitively to challenge each other to create better solutions for home technology every day, but they are also committed to eco-conscious efforts to provide these services with a minimal impact on the environment. By linking solar energy to home automation solutions, Vivint provides the right combination of new technology and environmentally-friendly equipment to meet homeowner needs, and Vivint reviews by major business and technology experts show that the company is doing more than ever to promote customer approval and to meet changing technology needs.
With the additional funding from firms like Goldman Sachs, and most recently from the Blackstone Group, Vivint is able to provide better quality customer service — one of its main goals. Vivint reviews proclaim that the company’s dedication to customer satisfaction has paid off in loyalty and satisfaction. The additional resources also allow Vivint to continue moving towards its other goal: innovation in the home security industry.
Geared Towards an Innovative Future
Vivint currently services over 675,000 customers in the United States and Canada, and was ranked number 46 on the Forbes “Most Promising Companies” list. Today, Vivint is the largest home automation company in North America. Vivint’s technology has continued to evolve to offer homeowners the latest in home technology and solutions that allow them to enjoy the best in protection and convenience. Vivint reviews by customers tell the story—the company is satisfying homeowner needs across the country through a network of cutting-edge systems and monitoring. Vivint recently opened the Vivint Innovation Center—a place where Vivint reviews existing technology, and works steadily toward improving services and products for the future.
Automation and Home Technology
Currently, Vivint specializes video surveillance, remote access, electronic door locks, monitoring and severe weather alerts. One of the lynchpins of the Vivint system is the remote access feature. Users can check cameras, door locks, and other home features wherever they are from a computer or smart phone. Vivint remote access is supported by most systems and most tablets. Moving into the future is easy with the Vivint reviews of home activity through mobile devices.
While saving customers money and providing high-tech energy solutions are an important part of Vivint’s mission, keeping families safe is always the first priority. Trained professionals offer 24-hour, 365-day monitoring of all systems to ensure that any emergency is dealt with swiftly and effectively. Vivint reviews of monitoring indicate that the company has some of the fastest response times in the industry, and Vivint won the 2012 CSAA Central Station of the Year award for its performance.
More recently, Vivint is gearing itself towards providing more energy-efficient solutions. Users can remotely control thermostats, allowing them to use as little energy as possible, as well as lighting to provide security and to reduce unnecessary use. Vivint reviews by customers indicate that this is one of the most-loved features of the entire system and helps homeowners save on utilities each month.
Solar and Clean Energy Efforts
In January 2012, Vivint launched its solar program to cut down on energy use and provide environmentally-friendly solutions to homeowners. Today, Vivint has 4,500 solar systems installed, with another 3,000 planned, and plans to reach 10,000 solar-managed homes by the end of 2013.
Vivint has bold plans for the future of solar technology as well. Vivint reviews indicate that the company is in the process of developing a zero-emissions home that uses only solar features from the date of construction. In three to four months, the company plans to have a showcase home finished that prospective buyers can view to get an idea of what a solar-based home looks like and how they can incorporate this technology into their own home plans.
The Future of Vivint
One area in which Vivint is focusing future efforts is that of solar panels and clean energy. While Vivint reviews by satisfied customers are encouraging, many of these homeowners would benefit from even more upgrades in terms of solar energy usage and eco-friendly changes to their homes. Vivint’s dedication to customer satisfaction goes beyond what the customer asks for; the company wants to give the customer what he or she truly needs, even if it means technology the homeowner has not yet considered.
In an interview with Bloomberg on Feb 27th 2013, Todd Pedersen expressed the company’s goals for solar panels and other forms of green energy. “We’ve kind of evolved from security,” says Pedersen, “and what we’re really focused on is putting panel technology in people’s homes to integrate services inside of the home. So it’s gone from security to home automation… and now solar, which is just part of the initiative that we’re trying to roll out there—just home services that really improve people’s lives.”
The company isn’t looking to slow down anytime soon, and Pedersen seems focused on paving a path into clean energy for the home automation industry. “We’re super focused on customer acquisition costs—driving those down—and installation efficiencies,” says Pedersen. “We see a world where it is going to continue.”