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Notion: The Story Behind This Smart Home Sensor Company
Headquartered in smart home security startups, after a solid crowdfunding campaign on Kickstarter, $16 million was raised.
Notion\'s small sensors can be placed near the door and in other locations around the house to monitor movement, temperature, water leakage, etc.
To learn more about the concept, I interviewed CEO Brett Jurgens.
Jurgens told me that he and his colleagues
Founder Ryan Margoles is a native of Colorado.
Jurgens said he was born and was an hour older than his foreign minister in Denver, Lamont, Colorado.
When Jurgens was between the ages of 11 and 12, he became a defender. to-back World Yo-Yo Champion.
A few years later, he went to school at the University of Colorado Boulder, where he studied finance and real estate.
Jurgens began his career as an analyst at the private equity group of investment bank Piper Jaffray.
In the group, Jurgens and the team helped private growth companies raise between $20 and $100 million from venture capitalists and strategic investors.
Jurgens noted that while working at Piper from 2007 to 2009, he used banks as a stepping stone to foster entrepreneurs.
\"I will certainly forget that this is a very difficult time to raise money.
\"This experience has taught me a lot about which companies are surviving and which businesses and teams are getting funding, even in the toughest environments,\" Jurgens said . \".
After that, Jurgens was hired as the first employee in Denver.
UrgentRx, his pharmaceutical company, is responsible for business development and operation, launching 6 products and expanding to more than 30,000 retail outlets.
Jurgens referred to the experience as \"training the entrepreneur spirit on the wheel \".
Jurgens and Margoles have been best friends since they were 4 years old.
They know they always want to do business together, but it will take a while to find the right idea.
\"Only a frightened puppy and a beeping smoking alarm are needed,\" Jurgens quipped . \".
One day, while Margoles was at work, the smoke alarm in his home began to beep due to insufficient battery power.
Apollo, Margoles\'s golden-haired puppy, didn\'t like the noise, so he ended up returning to a messy home.
Jurgens recalled: \"After calming Apollo down and replacing the smoke alarm battery, Ryan called me and said, \'Brett, that\'s it. \'.
\"A smoke alarm that alerts you wherever you are and is smart enough to know if there is an emergency!
Because what\'s the good thing if no one around hears a smoke alarm?
Note: This is a few days before Nest Protect or other smart smoke alarms.
\"At this point, the two of them start talking to anyone who is willing to listen.
They ended up interviewing about 150 people and learned that consumers rarely buy smoke alarms, and that the alarms they want to make may be sold for $150 (
By contrast, Home Depot\'s basic alarm costs $15)
They have to go through a lot of security testing before selling the alarm to prove it to be valid.
But the most important thing about the survey respondents is that people really want to know that the alarm clock rang when they were not at home.
In the first iteration, they decided to build a small device that could hear the alerts that people had already issued.
Once the idea was put forward, people began to come up with the idea of a small device, the device can monitor home safety, leaks, safes, wine cabinets, elderly parents who are still at home, doors to vacation properties, and more.
As part of the second iteration, they know that the whole family is an opportunity, but different people at different stages of life want to monitor different things.
\"We can do a single, small, very smart, many
Feature sensors can monitor all of these things at the same time to provide enhanced capabilities and a comfortable user experience for any user? Yes!
We think our price is also competitive . \"
After that, Margoles began to prototype the initial sensor, but soon realized the complexity of the idea --
This requires a more experienced hardware/firmware engineer.
\"We were lucky to have found our first employee, Sean, through one of my former colleagues, who is an excellent engineer with over 25 years of experience, \"Jurgens recognition is being sought.
\"Ryan and I paid him six months to build a functional prototype.
We all agree that if our client research and Sean and Ryan\'s \"architecture\" produce huge results in these six areas
In a month, Ryan and I will quit our job and devote ourselves to ideas.
\"It was in February 2014 that the two of them started at Notion full-time.
Shortly after that, they were accepted into the Techstars Accelerator project and proposed a pre-
Seed round launched a successful Kickstarter campaign to expand their understanding of consumer interest and help fund the idea, bringing software executives who develop mobile applications and back-end data platforms, and start production locally in Colorado.
Based on the manufacturer.
As part of class 2014, Boulder\'s Techstars accepted the concept.
When they applied, there were four people in the company.
Being part of Boulder\'s tech star is because they know they want to build the company in Colorado.
The first month-
Crazy mentor known as Techstars
The Notion team met with 150 mentors within a month.
\"They dig deep into our ideas, business models, technology, user experience, teams and everything you can imagine to drive us to think about how to get better,\" Jurgens recalls . \".
\"In the second month of our commitment to product and customer development, in the last month, we launched the Kickstarter campaign and promoted it to our company on the demo day.
\"After the tech star, the concept of MetaProp, a leading real estate company, was applied --
The concept was accepted as part of the first queue in 2015.
The main goal is to extend their network to all types of real estate and to better understand if we can help monitor larger real estate.
Therefore, builders in builders, real estate agents, more
Family owners/operators and others.
One of the lessons that Jurgens has learned in the process is that having a \"functional prototype, even if it\'s ugly, will really help you validate the interests of consumers and investors.
He encouraged entrepreneurs not to be afraid to put their ideas to the test.
Kickstarter\'s event was also delayed for a year or so, but they learned a lot about how to continue to communicate with supporters and respect them and their support.
AndJurgens said the experience also set the tone for their corporate culture.
Jurgens is also proud of working with Colorado.
This is a very helpful partner.
\"Going abroad early will be more expensive and difficult,\" he explained . \".
Notion also works with some insurance companies to reduce claims, reduce customer churn, differentiate products, and provide channels for frequent and active engagement with policyholders.
According to the study, people are willing to invest in the internet of things and are willing to change insurance companies if they are eligible for a policy discount for installing home security products.
Therefore, Notion is working with insurance companies eager to take advantage of the consumer conspiracy of IoT devices to acquire new customers to provide smart home technology as a competitive advantage, at the same time, suppliers can maintain active contact with their policyholders.
\"In addition, Notion\'s ability to collect and analyze large amounts of data has the potential to change the way property is protected and insured.
\"With a lot of adoption and more data, the real opportunity for IoT to reduce loss and predict behavior becomes clearer,\" Jurgens mentioned . \".
\"Defining and building this data platform is the direction of our efforts, and one day, installing certain smart home technologies in your home is likely to become a demand insurance coverage.
\"Since its public release in 2016, some enhancements to the concept have included performance and reliability improvements for second-generation devices.
Focus mainly on integration with partners such as Nest and insurance companies and other partners.
The first version of the concept sensor has a coin battery, the battery life is not long enough, not a normal battery, so it is difficult to replace it.
So the second generation is now powered by two AAA batteries. -
This makes the concept of the sensor 12-
Average battery life of 18 months.
The communication between the concept sensor and the bridge has been improved (hub)
Range is increased to 50% kilometers.
In addition, the second generation has been updated to the ip67level to completely protect it from dust and to be able to withstand pressure up to 1 m (about 3 feet)
30 minutes underwater.
And through the integration of Nest, this makes the information provided by this concept more operational.
Homeowners can monitor the temperature activity of the entire home, not just the corridors where the thermostat is installed.
For example, a customer at Notion said she placed the device on the front door to see when the device was turned on and off.
She added the temperature task because it was an option.
\"Over time, she began to receive an alarm that the sensor detected a temperature drop and finally realized that it was because the weather on her door had deteriorated.
The concept helped her find the problem and she replaced the peel on the door.
\"As a result, she saw her monthly energy costs fall, so the idea also helped her save some money in the process,\" Jurgens stressed . \".
Another interesting customer success story is about someone named Chris in Maryland.
He mostly uses the concept of a temperature detection system to keep his five pet cats comfortable, especially when he is out of town.
The Dragon cat is very sensitive to temperature.
\"He\'s been around for a while, and since he installed his system, Notion\'s temperature threshold function has alerted him twice about the HVAC failure.
In both cases, once, when Chris was on the other side of the country, he was able to send someone to his house to transfer the Dragon cat to the cooler, jurgens recalled: \"safe location, let the system fix quickly. \".
\"He told us that Notion saved his pet\'s life and made it easy for his family to rest when they were away from home.
\"So far, Notion has partnered with six of the top ten property insurance companies in the United States. S.
Notion has also seen a very high installation rate, and since its launch, the company has provided more than 8 million \"peace of mind information\" to homeowners \".
There are a lot of people using concepts to monitor water leakage at home.
Every time Notion detects a leak, the company issues an investigation to the owner of the system to determine the cause of the leak and what actions the owner has taken and whether an insurance claim has been made.
\"In all the leaks found, no one filed an insurance claim.
In these cases, 100% of the cases effectively helped homeowners mitigate water damage, saving homeowners $1 million to date.
It\'s very incredible, just the tip of the iceberg, because water is by far the biggest threat to families, claiming $10 billion a year, \"Jurgens added.
What are Notion\'s future corporate goals?
\"In the short term, we are vigorously promoting the expansion of the number of households through direct sales and channel partnerships.
We also extend our overall product range beyond hardware to provide more impactful integration, mobile applications, data products and services that provide more purpose and impact to owners and partners.
\"We also focus on expanding our team in Denver to attract more amazing talent from the city,\" Jurgens concluded . \".
\"In the long run, we believe that access to property insurance has become a requirement.
I know, it sounds a bit sublime, but the point here is that we see that major industries like insurance have such a big impact on helping people protect what they love, housing and apartment developers, small business owners and others will begin to join and need such technology in their properties.
You think I\'m crazy?
Take the automotive industry as an example-
Safety belts and airbags are not up to standard.
As technology advances, and more importantly, data supporting the impact of these technological advances prove their value, automakers and lawmakers are beginning to demand new technologies.
The same happens with attributes, and we plan to play an important role in this transformation.