Pinnacle Ventures, a corporate venture fund created by Pinnacle and the only fund to focus on data-driven reliability, announces their investment in SmartAC.com, a member-based technology platform that monitors the health of air conditioning systems. The deal, which marks Pinnacle Ventures’ first investment, will help SmartAC.com expand their service offerings to homeowners and top-level HVAC service providers.
“Pinnacle exists to make the world reliable through a data-driven approach, and SmartAC.com fits right in the middle of our Pinnacle Ventures mandate,” said Nathanael Ince, vice president of business development at Pinnacle. “SmartAC.com is focused on disrupting the HVAC space through advanced predictive analytics, and we’re excited to help fuel their next level of success.”
SmartAC.com was originally created to help homeowners and HVAC services providers recognize the full value of their air conditioning systems. The platform conducts daily health checks on air conditioning units and leverages specific asset data with machine learning algorithms to predict potential failures and detect system abnormalities before they occur. Users can easily access their unit’s real-time health information through a smartphone app.
“We are excited to have Pinnacle Ventures invest in our company and to have Ryan Sitton, founder and CEO of Pinnacle, join our board,” said Josh Teekell, founder and CEO of SmartAC.com. “The capital provided by Pinnacle Ventures will help us accelerate the growth required to meet our customer demand, which has scaled quickly since our launch in June. Additionally, this capital will help us power a new residential connected service economy for a $30 billion industry while offering our service partners a way to increase loyalty through improved transparency and customer experience. We’re very much aligned with Pinnacle Ventures’ focus on improving reliability through innovation and are confident that this investment will help us support our end users.”
For more information about Pinnacle Ventures or to submit an application, visit pinnaclereliability.com/pinnacle-ventures.