You may be spending more on utility bills than you have to. WeMonitor can help keep these costs down, without having to grow grass on your roof or exist in total darkness.
San Diego-based WeMonitor provides monitoring systems that “demystify” home energy. It has raised $5.3 million in financing to expand its team and release its first product later this year.
The technology tracks your energy consumption through a small device installed in your home. It collects and analyzes this data and sends you emails or mobile notifications about your activity. If part of the network is malfunctioning or needs maintenance, homeowners will be alerted and given the option to automatically request repair services. WeMonitor also delivers recommendations on how to save on energy bills, such as turning down the thermostat, turning off the lights, or unplugging energy draining devices.
This is an area where little changes can make a big difference. Even environmentally and budget-conscious people may be unaware of certain habits or unnecessary drivers of cost. WeMonitor said the average customer can save 10 to 20 percent on their energy bill using its system.
Home monitoring and automation systems are becoming more mainstream as production, installation, and maintenance costs are going down (thanks to smartphones), and tech companies are designing more user-friendly options (also thanks to smartphones). Companies like OPower, Nest, MyEnergy, and Alarm.com are paving the way, and Comcast and AT&T now offer home monitoring services. The connected home is no longer a distant dream, but an accessible reality that can make homes more cost-effective, safer, and friendly to the environment.
Homeowners pay a monthly subscription fee for WeMonitor and the company will distribute the product through a franchising model. Dominion Investment Group provided this capital to help WeMonitor bring its product to market.