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SmartHome Ventures Launches to Accelerate Mass Market Adoption of Home Automation Solutions

KANSAS CITY, MO -- (Marketwired) -- 08/13/14 -- SmartHome Ventures, a company established in early 2013 and committed to delivering home automation to the mass market, announced its official launch today. Led by former cable, retail, and wireless executives, SmartHome Ventures is pioneering professional-grade home automation for the everyday consumer. With a vision of making the smart home simple, the company will be rolling out a line of products and solutions that will enable consumers to manage their home from anywhere. The company has already established partnerships with major national retailers, e-tailers, service providers and other major distribution channels to spark broader consumer adoption of connected home solutions. SmartHome Ventures combines state-of-the-art technology, a growing portfolio of interoperable devices, and uncompromising focus on the consumer experience to create solutions that leapfrog the home automation products currently in the market. Backed by venture capital and private equity firm OpenAir Equity Partners, SmartHome Ventures is making the smart home simple for distribution partners and consumers.

With widespread adoption of high-speed broadband, smartphones and tablets, the market is primed for an affordable and scalable home automation solution that makes sense for consumers, distribution partners, device makers and infrastructure providers. According to a recent Forrester report, one-third of consumers say they are interested in the connected home, but only 1-2 percent of consumers actually have connected devices to control lighting, climate, energy, appliances or provide remote home management. What the smart home market lacks is a solution that is engineered with the consumer in mind; one that is simple and flexible, allowing users to purchase the technology and products they need from retailers they know and trust, install them quickly and easily, and control everything with a single, intuitive interface.

"SmartHome Ventures will be the first to bring sensible home automation to the mass market," said Ted Schremp, chief executive officer of SmartHome Ventures. "With our deep bench of industry expertise spanning retail, telecommunications, cable and device technology, SmartHome Ventures is realizing the vision of a truly automated, simple, intelligent home."

In the coming weeks, SmartHome Ventures will introduce its flagship home automation solution, grounded in the industry's broadest and most-robust set of interoperability standards and offered at an affordable price. Consumers will be able to shop for and purchase the solution from brick-and-mortar or online retailers, easily install it themselves, and have a complete solution up and running in as little as 30 minutes.

The executive team at SmartHome Ventures is comprised of industry experts from Google, Comcast, Charter, Sprint and BestBuy. Combined, the founders and leadership team have decades of experience in bringing new connectivity services and consumer electronics to the mass market.

"Smart home technologies have been around for years, but the market is now finally coming to fruition," said Scott Ford, Managing Director of OpenAir Equity Partners. "The company has assembled an amazing group of executives who uniquely understand how to bring complex, service oriented products to mass market channels."

About SmartHome Ventures

SmartHome Ventures is making the smart home simple. SmartHome Ventures is focused on bringing home automation solutions to the mass market. Venture investors in SmartHome Ventures include OpenAir Equity Partners. Visit www.smarthomeventures.com for more information.

About OpenAir Equity Partners

OpenAir Equity Partners is a venture capital and private equity firm focused on high growth, early stage companies in technology, mobile, and communications. Backers of GoGo Inflight (NASDAQ: GOGO), Zave Networks (acquired by Google), eRecyclingCorps, among others, the OpenAir team is comprised of mobile pioneers with a collective 65 years of mobile industry operating experience and 22 years of investing experience. Visit www.openairep.com for more information.

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