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The Venture Codex

Center Electric

447 Sutter St, San Francisco, CA, 94108, United States

Overview

Center Electric believes that the Internet of Things (IoT) is the most revolutionary expansion of computing since the dawn of the personal computer. The Things themselves are a bellwether of the Internet's Third Wave. The First Wave was the prevalence of desktop connectivity. The Second Wave was the rapid connection of more screens, including laptops, mobile and tablets. The Third Wave is the expansion of connectivity to everything else, for both industrial and consumer use. Early indicators of this are the rise of cloud computing, the development of low power wireless technologies, and the initial rise of connected objects. Many venture capital firms interested in this space focus on shiny objects, the Things, the one consumer start up in a thousand that will make it big. These opportunities will not succeed, however, without a powerful and stable ecosystem enabling these concepts to come to life quicker and more efficiently. An ecosystem provides these innovators with context needed to focus on their differentiation. To build this new Internet ecosystem, investments must be made in the underlying infrastructure needed to support IoT as well as the hardware that takes advantage of it. We must scale the infrastructure to support an additional 50 billion devices by 2020. Center Electric is a firm designed to invest in the full stack, for both the Internet as well as the Things.

Total investments
4
Lead investments
0
Investments · 12mo
0
Active investors
2

Sector focus

  • Financial Services
  • Internet of Things
  • Venture Capital
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Investment portfolio

  • Nubix

    Participated · Seed · Dec 2020

    Nubix offers a real-time operating system (RTOS) container and services solution for microcontrollers (MCUs), enabling developers to build once and deploy anywhere for IoT and edge applications. Its microcontainer technology allows containerized applications to be safely distributed to devices and executed by a container runtime. Application logic can be updated and redeployed without changes to the container OS, enabling smaller, faster and lower-risk updates. The company emphasizes real-time analysis and action on sensor data directly on devices. Nubix is led by co-founder and CEO Rachel Taylor and is based in San Francisco, CA. It intends to use the new funding to expand its engineering capabilities.

  • Roost

    Participated · Series A · Sep 2015

    Roost provides a home telematics platform and consumer devices including the Roost Smart Battery and the Roost Smart Water Leak and Freeze Detector. The company sells primarily through insurance carriers that deploy devices directly to policyholders, pairing hardware with a digital mobile app to drive engagement, retention and acquisition. Roost targets reduction of claim costs from fire and water perils, a market the article cites as costing $20B per year in the US. Led by co-founder and CEO Roel Peeters, the company intends to use new capital to continue product development and to expand new product services for insurance partners. The business is based in Sunnyvale, California. The article reports Roost has raised $17M in total funding to date. Roost’s core product is a $35 smart battery that fits in most smoke detectors and adds smartphone notifications, low-battery alerts, alarm notifications, and the ability to silence alarms. The company takes a retrofit approach to bring smart-home functionality to existing devices rather than requiring consumers to buy new hardware. Roel Peeters is CEO and the company is positioning the product for broad consumer adoption by leveraging familiar installation patterns. Roost previously accumulated nearly $100,000 in Kickstarter pledges in 2014. Today the company is expanding operations and gearing up for a commercial launch supported by new institutional funding. The product and go-to-market focus aim to lower barriers to entry for smart-home adoption. Roost is a Sunnyvale, CA-based developer of smart home technology. The company has developed a patent-pending connected platform intended to allow mainstream consumers to enter the smart home space. Its initial hardware solution, which uses an innovative retrofit approach to the connected home, is planned to be announced this fall. The product will be sold at a retail price below $50 and will be coupled with a mobile app that manages home data. Roel Peeters serves as CEO, James Blackwell as CTO, and David Henry as CMO. Financially, Roost has raised $975K in seed funding from investors including DCM Ventures, Jason Krikorian, Legend Star and angel investors.

  • NS1

    Participated · Series A · Apr 2015

    NS1 provides DNS and IP address management tools and other network-performance services used by enterprises to optimize latency, reliability and costs. The company says it serves about 600 customers and reported new customer bookings were up 159% year over year in the first quarter. NS1 has expanded its product set based on customer feedback, including a recently launched VPN-steering capability to optimize VPN footprints. The startup entered the COVID-19 period with cash in the bank and accelerating customer demand as firms reprioritized network performance. NS1 plans to continue expanding its core network-layer offerings while pursuing new markets such as IoT. NS1 provides next-generation DNS solutions built on an API-first platform that transforms DNS into an intelligent, automated system for improving application performance, reliability, and security. The company expanded into EMEA in 2017 and launched Nameserver Acceleration for mainland China, enabling simultaneous use of global and China DNS networks and a reported 25 percent reduction in global latency. In 2017 NS1 more than doubled its team, added hundreds of enterprise customers (including Salesforce, The Guardian, Weight Watchers, and a top‑10 North American airline), and achieved triple-digit revenue growth for the fourth consecutive year. The company reports more than 97 percent enterprise customer renewal rates and released enterprise features such as Terraform integration and CERT DNS support for HIPAA‑compliant healthcare data exchange. NS1 plans to expand its platform for additional enterprise use cases, bring new cloud and software products to market, and drive rapid growth in technology and enterprise segments. NS1 provides an intelligent DNS and traffic management platform built on a data-driven architecture and a Filter Chain routing engine, purpose-built for mission-critical Internet applications. The company offers application delivery solutions used by customers such as Yelp, LinkedIn, Imgur, MaxCDN and Collective Media. Led by co-founder and CEO Kris Beevers, NS1 focuses on routing and traffic management for high‑availability services. The company said it will use the new funds to continue to expand awareness of its application delivery solutions. The announcement did not include revenue or user metrics. The fundraise reflects ongoing investor interest in NS1's platform and enterprise use cases. NSOne provides patent‑pending traffic management technologies that let website operators intelligently route users to the best possible service endpoint. Launched in 2013 and led by CEO Kris Beevers, the company is based in New York, NY. Major customers mentioned include Imgur, Collective Media and OneLogin. NSOne plans to use new funding to expand its global delivery presence and further improve network performance. The company also intends to accelerate product innovation and enhance customer support. It recently completed a Series A round, signaling early commercial traction and investor interest.

  • August Home

    Participated · Series B · Mar 2015

    August Home builds smart locks and offers August Access, a partnership program that enables remote generation of temporary access codes for homeowners and landlords. Its core product targets rental and residential markets, and is designed to be updated via firmware post-sale. Most sales still come through traditional retail channels, but the company is increasing focus on service and utility partnerships to broaden distribution. Notable partners in the rental space include Airbnb and HomeAway. Corporate partners/investors include Comcast Ventures and Australian utility AGL, reflecting strategic distribution opportunities such as inclusion in Xfinity Home. Management says funds will support an aggressive product roadmap and significant R&D to introduce additional new products this year. August Home builds smart home access products and services that replace traditional keys and let users control their front door from anywhere. The company’s products enable creation of virtual keys and time-limited access for house cleaners, dog walkers, delivery services, guests, friends, and family via a smartphone. Its devices are designed to fit naturally and elegantly into the home and integrate with other smart devices and services. Jason Johnson is identified as the company’s Chief Executive Officer. August Home is based in San Francisco, California. The article does not disclose financial metrics or specific revenue figures. August builds smart home access products, including the August Smart Lock and Connect, with accompanying mobile apps and cloud-based access control. The company aims to solve the 'last five foot problem' by providing secure, intelligent ways to manage home access for homeowners, property managers, and guests. August plans to use the new financing to launch additional home access products and expand further into retail markets. It also intends to grow its San Francisco-based team. Financially, August raised $38 million in a Series B and reports total funding of $50 million to date. Its product suite emphasizes security and seeks to bridge the gap between service providers and homeowners.

Team