Brilliant Secures $40M in Funding, Including Resideo Investment
Brilliant locks in $40M in Series B Funding, led by Next47 and Celesta Capital with participation from Resideo Technologies.
Brilliant has announced a $40 million Series B financing round led by Next47 and Celesta Capital with participation by Resideo Technologies, August Capital, Peak State Ventures, Gaingels, and Miramar Ventures.
The new capital brings Brilliant’s total funding to date to $61 million and will allow the company to expand its product offerings and double down on its sales strategy for single-family homebuilders, multifamily developers, property managers, and professional integrators.
“We’re experiencing phenomenal growth and seeing unprecedented demand for our smart home system, which delivers simplicity and interoperability to a wide range of customers,” says Aaron Emigh, CEO of Brilliant. “We’re particularly excited about the homebuilder, developer, and integrator channels, and our new investors will help us further expand in these markets and unlock the full potential of a true smart home experience.”
Brilliant’s mass-market home control, lighting, and automation system makes it easy for homeowners, families, and guests to control every smart home device in a home: lighting, thermostats, cameras, doorbells, locks, music, garage openers, intercom systems, as well as experiences like scenes.
Brilliant touchscreen panels can be installed wherever standard light switches are located and transform any house or apartment into an easy-to-use smart home. Brilliant also offers smart dimmer switches and smart plugs to extend smart lighting throughout a home. The system works with the most popular smart home brands and products, including Amazon Alexa, Google Assistant, Apple HomeKit, Honeywell Home by Resideo, Ring, Sonos, Google Nest, Schlage, Kwikset, ecobee, Philips Hue, and many more.
As part of the fundraising, Matthew Cowan of Next47 and Nicholas Brathwaite of Celesta Capital will be joining Brilliant’s board.
“We are thrilled to be investing and partnering with Brilliant during this high-growth stage of their journey,” says Matthew Cowan, general partner at Next47. “Given the widespread adoption of smart home technologies, we are seeing a massive shift in user expectations around having a complete, affordable, and seamless smart home experience. Brilliant’s ability to seamlessly unite all smart home devices in the home is a real game-changer that we believe will make them the next great smart home company coming out of Silicon Valley.”
“We believe that much of the growth in smart home technologies will be propelled by new construction,” says Nicholas Brathwaite, General Partner at Celesta Capital. “With Brilliant’s strong channel relationships and traction, and compelling product offerings, the company is uniquely positioned to capitalize on this trend.”
Why Resideo Invested in Brilliant
A new strategic investor in this financing is Resideo (Nasdaq: REZI), makers of smart thermostats, security systems, and behind-the-wall components and controls. Resideo is also a leading distributor of commercial and residential security and audio-visual products through its ADI Global Distribution business. Resideo spun off from Honeywell back in 2017.
“Brilliant is Resideo’s first strategic investment, and we are extremely excited to deepen our relationship with an innovator in the smart home controls market,” says Travis Merrill, chief strategy and commercial officer at Resideo. “Brilliant brings the smart home experience together in a unique and user-friendly way. A key component of Resideo’s long-term strategy is partnering with residential technology leaders to leverage our product and channel strengths to provide even more value to customers and end-users. We have teamed with Brilliant since their early days, and we look forward to expanding this relationship across our product offering and within our ADI distribution business.”
Brilliant first launched in 2017 with its affordable smart home systems that bring high-end home control and automation capabilities to every homeowner and renter. Fueled by growth in homebuilder and multifamily channels, the company has experienced exponential growth, growing over 400% since February of 2020. In the summer of 2020, Brilliant started shipping its $69.99 Smart Dimmer Switch, and in 2021, started shipping its $29.99 Smart Plug, rounding out the Brilliant Smart Home System.
The new backers join Brilliant’s existing investors, including August Capital, Miramar Ventures, Peak State Ventures, The Box Group, and other prominent investors.
