Ferguson Ventures invests in Whisker Labs and Ting technology
Ferguson Ventures, the corporate venture capital and strategic partnering arm of Ferguson Enterprises, has invested in Whisker Labs, a sensor and data technology company focused on protecting families and homes through the development of Ting, a super-smart DIY sensor that monitors a home’s entire electrical network to help prevent electrical fires and proactively detect maintenance issues with major home systems.
Aging infrastructure, widespread growth in connected devices and access to electricity by 6.2 billion people have made electrical fire prevention a rising global concern, Ferguson Ventures noted. One Ting plugged into any outlet in the home detects loose connections, damaged wires or faulty appliances. Beyond fire safety, Ting provides meaningful engagement and information to homeowners on conditions and events of high relevance to everyday life, such as power outages, weather warnings and even notifications that their HVAC or other key appliances may be about to fail.
“Ting provides an incredible business opportunity for our trade contractor customers and gives them the information they need to deliver proactive, valuable and engaging service to homeowners,” said Blake Luse, director of Ferguson Ventures. “This invest aligns well with our goal of bringing innovative solutions to our trade contractor customers to help them run a better business and be well-positioned for the future. We look forward to continuing our journey with Whisker Labs and helping them scale using Ferguson’s industry-leading position, national footprint and deep customer relationships.”
“This investment lets us continue our mission of protecting families and homes while leveraging our sensor and data science strengths to realize the vision of Ting as a ‘fitness tracker for the home,’ said Bob Marshall, Whisker Labs’ co-founder and CEO.
Ferguson Ventures invests in and partners with early- through late-stage companies that are solving industry challenges, able to add value to its partners, scale across its customer base and dominate in their space, it noted. Including Whisker Labs, the CVC has invested in six startups that are solving industry problems and accelerating the use of emerging technologies across the commercial and residential construction, remodel and services industries. Previous investments include GTP Services, Payzer and HOMEE.