Ecobee

Smart home devices for energy efficiency

Toronto, Ontario, Canada

About Ecobee

Ecobee designs smart home devices that improve comfort, security, and energy efficiency. Their main product, the SmartThermostat, allows users to control their home environment using voice commands through Siri and Alexa. This product, along with their cameras and sensors, integrates easily with other smart home systems. Ecobee targets homeowners who want to enhance their living spaces with technology, particularly appealing to those focused on energy savings and environmental impact. Unlike many competitors, Ecobee emphasizes energy efficiency, claiming to have saved energy in over one million homes, which also helps customers lower their energy bills. Their business model includes selling devices directly and through retail partners, as well as offering subscription services for advanced features. Ecobee aims to provide user-friendly products while maintaining a strong commitment to data privacy.

Toronto, CanadaHeadquarters
2007Year Founded
$163.2MTotal Funding
ACQUISITIONCompany Stage
Energy, Consumer Software, Consumer GoodsIndustries
501-1,000Employees

Benefits

Health/Lifestyle Spending Account
75% parental leave top-up
Health benefits starting day 1
25-day paid sabbatical in year 5
$1,500 learning & development budget
Quarterly hackathons
Volunteer Days
Flexible hours & work from home
Your own Ecobee device

Risks

Competition from Amazon and Google could overshadow Ecobee's market presence.
Data privacy challenges may arise as Ecobee expands its smart home ecosystem.
Integration of new features may lead to technical challenges and customer dissatisfaction.

Differentiation

Ecobee offers voice control via Siri and Alexa, enhancing user convenience.
The SmartThermostat integrates with solar energy systems, boosting energy efficiency.
Ecobee's in-app marketing system 'Drawers' increases user engagement and service adoption.

Upsides

Ecobee's acquisition by Generac enhances integration with solar energy systems.
Smart lock integration expands Ecobee's comprehensive smart home system.
Automatic energy adjustment features appeal to environmentally conscious consumers.