MMB Networks: The ‘Glue’ Behind the Smart Home
The internet of things. The industrial internet. Connected everything. Is it finally here? In the connected home, we believe it is. In a few years, a connected smart home will be as common as a mobile phone today. The connected home market is a $10 billion dollar market and projected to grow to $44 billion by 2017 (GSMA).
In 2013, we saw tremendous market traction for standalone applications such as NEST’s Learning Thermostat and Phillips Hue LED lighting — with many more on their way in 2014. Their success has created a market frenzy to ‘smart enable’ everything in the home and more importantly, to think about how they all connect/interact together and with the outside world (e.g. energy meters, maintenance and emergency services).
MMB ‘smart enables’ products. Whether a lightbulb, window shade, moisture sensor, or door lock, MMB helps consumer device manufacturers rapidly enable their product to connect with existing home platforms or perform as a standalone product with a custom branded smartphone app. And, as standards and platforms evolve, MMB can remotely update device software to be sure products are forward compatible.
We invested in MMB, as it is a one stop shop for device manufacturers looking to get smarts into their products. The founders at MMB spent years working with many communication standards and honed a patented process to rapidly build the application layer and interconnects to various home platforms. We look forward to working with this energetic young team.
Originally posted Jan 16, 2014 on the ArcternVentures.com