Friday, September 4, 2015

USAA Backs Connected Battery Maker Roost

San Antonio-based financial services firm USAA has dipped its toes into the connected device market, with a new investment. Silicon Valley-based Roost, which makes a 9V battery which plugs into an existing smoke alarm, and sends out low battery and alarm alerts to a user's smartphone, said this week that it has raised $5.5M in a Series A funding. The funding was led by RPM Ventures, and also included an investment from an affiliate of USAA. Other investors in the company include DCM Ventures, Center Electric, and StartGarden. The investment looks to be the first connected device investment by USAA, which has typically invested in fintech and other finance related startups. More information »