Hubsai

Hubsai

secure, non-cloud home automation platform

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Security Type
Common Stock
Categories
Service Businesses
Min Investment
$100
Location
San Ramon, CA
Offering Date
November 24, 2020
Expected Close Date
January 25, 2021
Target Raise
$10.00K-$1.07M
Deal Notes

Price per Share: $0.78

Valuation
$12,789,240

Company Description

Hubsai has set up 3 distinct sales channels to rapidly grow the business:

  • Direct consumer sales
  • Distributor sales (resellers, builders, and installers)
  • Direct multifamily sales.

We are targeting to have our first 1,000 installs completed by the end of Q2 2021. Hubsai makes a modest margin on the devices sold plus a fee per installation. Recurring revenue is based on a SaaS monthly subscription model. Customers pay a monthly subscription ranging from $9.99 per month for a Starter Kit install to $39.99 per month for SMB/Multi-location customers.

Key Deal Facts

Revenue for the US smart home market is projected to reach over $41B by 2023. The smart home vendor landscape, however, remains fragmented and unsecure with no clear choice for non-technical homeowners wanting to automate their homes.
Hubsai is not only well-positioned to provide this choice for consumers via direct sales and installer/reseller channels, but also plans to roll out a smart home services delivery platform for telecoms and ISPs that can rapidly scale and grow the community of Hubsai users.
With customer privacy as our priority, Hubsai stores homeowners’ information on the local Hubsai Hub rather than on a public cloud. Unlike other smart home automation platforms, we are designed to provide a worry-free, positive experience for homeowners transitioning to smart home technology.

Use of Proceeds

  • Compensation for managers
  • Working Capital
  • Salespeople
  • Marketing
  • R&D
  • Intermediary fees

Management Team / Advisory Board Bios

Mike Ghodoosian
Founder and CEO
Mike drives the strategic vision of Hubsai, in addition to the company’s product roadmap, and partnerships, which include strategic relationships with Assa Abloy (the Yale and August lock brands), Amcrest, and Fibaro. Before Hubsai, Mike founded and led several startups, including MGH, an AI and IoT-industrial automation startup, and Universal Responses, a B2B survey data management platform. As Director of Global Accounts at Siemens, Mike was responsible for the Microsoft, Intel, HP, and SunMicro accounts with frequent C-level interactions. He holds a degree in Mechanical Engineering, and an MBA from Notre Dame de Namur University.

Fernando Narvaez
Chief Financial Officer
Highly accomplished senior executive that brings a wealth of finance and corporate management knowledge and over 15 years of International P&L management, strategy development and a proven track record of driving revenue and managing relationships with current and potential investors.
Prior experience includes roles in Fortune 500 companies such as Oracle Corporation where he oversaw the Finance portion of North America Cloud business. Fernando has also been involved with Startups Growth, raising funds from institutional investors and Merger & Acquisitions transactions.

Deal Notes

Price per Share: $0.78

Amount Raised : $32,067
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Security Description

Common stock is a security that represents ownership in a corporation.

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