CHASELLA , the leading alternative investment firm serving the twenty-first century real estate industry, is excited to announce its investment in Austin-based company PLUM – a smart, WiFi-connected light-switch that enables for centralized lighting control of your entire home, right from your phone.
“Plum is truly an awesome company,” said Jim Kaplan, Founder and Managing Partner of CHASELLA. “Their CEO, Utz Baldwin, is a seasoned professional who has unparalleled expertise within the home automation industry. Great team, great product. They’re going to do well.”
PLUM as a company was an exact fit within CHASELLA’s greater investment strategy, which is to back products and services that serve the modern real estate industry. “As a developer,” added Jim. “I am always looking for ways to enhance our model home features, or to upgrade existing technologies. Sometimes this can be cost prohibitive; it may cost several thousand dollars to pre-wire a ‘smart home.’ But, with products like PLUM, which embrace modular design, we can feature the wonderful capabilities of these solutions, while minimizing capital outlay.”
Kaplan believes that smart home technologies are quickly becoming a critical component in the residential market today, especially as Millennials begin to enter the realm of home ownership. “By showcasing these technologies, our potential purchasers are exposed to amazing technologies that can be incorporated into their new home, efficiently. That is what we like to do: bring technology and comfort to our purchasers through the latest advancements in home tech.”
PLUM is an alumni of both the TechStars and Microsoft Ventures Program. In August 2015, the company closed a round of just under $6 million in seed funding.