Sevenhugs, creator of connected home products, today announced the strategic opening of its San Francisco office where the executive team will be overseeing global operations and product development. The new office brings Sevenhugs closer to partners and provides opportunities to solidify its network to further grow its business.
Additionally, Sevenhugs has completed a $14.6M (13M euros) Series A funding round that will focus significantly on building the team and investing in product development. Sevenhugs has received a total of $17.5M in funding.
High-growth investment firm Xerys Gestion led this current round of funding, which was supported by existing investors including CapDecisif Management through the Fonds Regional de Co-Investissement d’Ile de France.
Sevenhugs will use its latest round of funding to:
- Broaden the global launch of the hugOne to the U.S. The hugOne is a sleep monitor that tracks sleep patterns to help families consistently rest better by capturing temperature, humidity, and air quality. It pairs with other smart home technologies such as Nest and Phillips Hue.
- Accelerate the development of the soon-to-launch intelligent Smart Remote, a universal control center for all home technologies. This product will seamlessly unify the connected home and enhance the user-experience with its simplicity.
- Expand its U.S. footprint with retail sales channels and bolster partnerships with key players in the smart home landscape.
- Increase hiring of team members in the U.S. and France.