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Switch raises $3.8m Series A – based on Space, Product and People

Jason Cheong, a partner in the $400m technology fund, 

Allectus Capital was a lead investor in Deb Noller’s Switch, which has raised a  $3.8M Series A round. 

Why did they invest? 

1. The Space

 IoT and connectivity technology in Smart buildings is a hot space , and Switch is building a world-leading connected building platform, addressing problems such as 


·       devices connecting 

·       aggregate big data into useful outputs?

·       maintain security of the underlying devices – protecting company and personal information on smart devices 

Switch automated solution optimises the way companies use their limited resources (energy ) in a really meaningful way providing smart, real-time and secure visibility and control over connected buildings.

2. The product 

  • Allectus invests in high-growth businesses
  • Switch has Existing customers like WeWork, Oxford Properties, Forest City – there is a need for their solution .
  • It’s an enterprise SaaS providing an enormous value proposition to their customers – providing  hundreds of thousand dollars of performance opportunities, showing an ROI on  platform costs in 3 months, and reducing energy costs by 10-20% .
  • As the Platform grows and more buildings come online, the insights across the tenancies and the ability to optimize and benchmark will be valuable
  • Allectus can add value to the business 

3.  The people – culture, team and expertise 

  • Strong people – who plan to be there for the journey 
  • We are looking for founders that will build sustainable business models which engender trust in all of their customers, stakeholders and shareholders. 
  • The founders we are looking to back are passionate and driven, all the while expressing a foundational commitment to integrity, diversity and excellence.
  • Strong values and radically transparent with what they are doing. 
  • Clear well thought out scalable vision – ideally global 
  • Deep industry experience 
  • The intense focus on customer service and satisfaction

Posted on September 2, 2018

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