According to documents filed with the U.S. Securities and Exchange Commission, the security and home automation company Alarm.com has filed to raise up to $75 million through an initial public offering.
A generic, category-defining domain name whose business was founded in 2000, Alarm.com sells both hardware and service contracts to alarm companies. With 2.3 million subscribers, most of whom are residential, the company reported 2014 revenue of $167.3 million, net income of $563,000 and a 93% renewal rate from customers.
Services offered include interactive security, energy management, video monitoring and intelligent automation…which are installed via nationwide network of professional, licensed service providers.
Venture Capital firm ABS Capital acquired Alarm.com for $27.7 million in 2009. In 2012, it raised $136 million in a private equity round from Technology Crossover Ventures.
Things don’t seem alarming for Alarm.com; although with the smart home market competition growing fast with Google, Apple and Samsung, this IPO could get alarms ringing!!