Alert Labs Announces Intact Ventures as a Strategic Investor

Originally published by Alert Labs

KITCHENER, ONTARIO, April 19, 2017 – Alert Labs Inc., designer of easy-to-install, cellular-connected home protection technology, is thrilled to announce an investment by Intact Ventures, the strategic venture arm of Intact Financial Corporation, Canada’s largest provider of property and casualty insurance. BDC Capital, Garage Capital, Hedgewood Inc., and several angel and private investors have also invested in Alert Labs in order to accelerate marketing activities and scale business operations.

In 2015, Canadian insurance companies spent approximately $2.6 billion repairing homes due to water damage. In the USA, 45 per cent of the $41.2 billion in home insurance claims were due to water damage and freezing pipes. In the next 5 years, it’s expected that North American insurers will spend over $100 billion to repair water damage in customers’ homes. Alert Labs is committed to helping the insurance industry reduce preventable expenditures.

“This represents Intact Ventures’ first investment in Canada. It’s exciting to support a company like Alert Labs that is developing technology that will help protect homeowners and mitigate risk,” says Karim Hirji, Senior Vice President, Intact Ventures, “We appreciate the importance of providing homeowners and businesses with innovative solutions that are easy to use, cost effective and reliable. The value of this type of technology will continue to grow as we adapt to climate change.”

Alert Labs’ Flowie water sensor and Floodie companion sensor work together to protect homes from flood damage, and to provide minute-by-minute water use information. This allows Alert Labs’ analytics engine to identify leaks from the municipal water supply, like a leaky toilet or malfunctioning furnace humidifier, and to share insight into water conservation opportunities. Homeowners receive email and mobile alerts for floods, leaks, high or continual water use, and power outages. Alert Labs’ sensors are cellular-connected with a built-in battery backup, which means they don’t rely on WiFi and will continue to operate during an ice storm or power outage. Flowie also reports basement temperature and humidity which gives early warning about environments with higher potential for mould or freezing pipes.

“It is inspiring to have Canada’s leading insurance company believe in our vision and goals, and we’re grateful for the financial support of our investors. This will ultimately enable us to share our products with more customers,” says George Tsintzouras, CEO of Alert Labs. “We’ve designed our sensors with our customer’s experience as the top priority. Our sensors are as easy to install as a watch or a Fitbit – everyone can do it with no tools or professional installers.”

Alert Labs also recently announced a program with the City of Guelph, Ontario. As the largest city in Canada that relies solely on groundwater for its water source, Guelph is promoting Alert Labs’ Flowie Water Sensor Kit as a tool to drive water conservation, and is offering a rebate to its residents for purchasing Alert Labs’ leak and flood protection solution.

Sources:
http://assets.ibc.ca/Documents/Facts%20Book/Facts_Book/2016/Facts-Book-2016.pdf
https://www.cia-ica.ca/docs/default-source/2014/214020e.pdf
http://www.iii.org/fact-statistic/homeowners-and-renters-insurance

About Alert Labs Inc.
Alert Labs is an IoT technology company based in Kitchener, Ontario. They were the $100,000 winners at Communitech’s Rev Demo day in November 2016. Alert Labs builds affordable monitoring solutions for residential and commercial property owners. Alert Labs’ simple-to-deploy sensors can be placed on water meters, sump pumps, near toilets and other appliances to detect water leaks, floods, power issues, abnormal temperatures, and other events. Customers receive real-time alerts and insightful data analytics via SMS, email, and the Alert Labs app. Visit www.alertlabs.com.

AC Grad Alaunus Unveils Bloom

New Platform Puts Ontario Patients and Families in the Driver’s Seat When Accessing Home Healthcare Services
April 10, 2017 (WATERLOO, ON) — Alaunus, an emerging leader in technology-enabled care solutions today launches Bloom, a new technology platform to directly connect Ontario patients and families with caregivers, accelerating access to high quality home-based care.
Targeting the 1.46 million people, mostly seniors, in Ontario today who receive community support such as meals, transportation and caregiver services in their homes, Bloom gives patients and family members more choice, using modern technology to connect and match patients to high quality, fully vetted caregivers. The platform streamlines the existing home health care delivery system, empowers full patient-choice, enhances accountability, and elevates the quality of accessible caregivers, all while strengthening the voices of patients and families in their own healthcare planning.
In Ontario today, 93% of eligible home care patients receive their first nursing visit within five days of being approved and 84% of home care patients with complex needs receive a visit from a personal support worker (PSW) within the five day target[1].  The ultimate goal of the Bloom platform is to narrow that time window even further, says Andrew Ringer, CEO of Alaunus, Bloom’s creator.
“With the home health care market expected to grow internationally to reach $400 billion by 2021, our healthcare system can expect to see more cost constraints, more hospital admissions and more “aging in place” preferences. Bloom is a much-needed platform for the time,” says Ringer. “It puts flexibility, real-time communications and on-demand service directly in the hands of patients and their families, while leveraging proven evidence-based practices for increased client satisfaction and care outcomes. At this time of growing demand, we want to provide fast, safe, secure, and affordable home care for everyone.”
Bloom Capabilities:
●   Full alignment with Patients First Act and Better Care Closer to Home
●   Patient choice of personal support worker (PSW) or health care provider (HCP) on-demand, with real time notifications
●   Easily search PSW or HCP by geography, skill-set, experience, & ratings/reviews – ideally matched based on Bloom’s matching algorithm
●   On demand service capability, easily scheduled by patient, family, or care team
●   Geo location time and attendance verification to increase caregiver accountability, alleviate over-billing & reduce administrative burden.
Bloom’s Advantages:
●   15-20% reduction on home care services spend
●   Provides more care and control to more patients
●   Encourages faster, more accountable and efficient care
●   Increases at-home quality of care, motivating caregivers to do better work
●   Adds value to the community, and
●   Supports an increased number of caregiver jobs in order to provide better care closer to home
Fuelled by Ontario Health Technologies Fund (HTF)
Bloom’s innovation is fuelled by the Ontario Health Technologies Fund, a $20M Fund developed specifically to support the development of leading, market-ready, made-in-Ontario health technologies. The first priority area for the HTF is Better Care Closer to Home, enabling Health Innovation Teams from across Ontario to work on projects related to home and community care through virtual, digital and mobile health-care technologies. Alaunus is one of 15 health innovation projects selected province-wide for HTF funding.
Pilot Projects in Hamilton, Waterloo Region.
Bloom will be piloted in partnership with Brain Injury Services of Hamilton and the Waterloo Wellington LHIN/CCAC.
“We have the ability with Bloom to leverage technology transform the traditional home health care delivery model,” says Laurie Graham, Director, Residential Services, Brain Injury Services. “Patients and their families are provided with greater control over their health care decisions and more expedited care. This drives better outcomes. Care workers as well, are provided with better support to succeed in their roles. Across the board, quality goes up.”
“The Waterloo Wellington LHIN was pleased to support Alaunus’s application for funding from the Ontario Health Technologies Fund, given its potential to facilitate a better connection between patients and caregivers, while reducing costs and increasing transparency and accountability. This is directly aligned with Ontario’s  Patients First Action Plan,” says Bruce Lauckner, CEO, WWLHIN.”
The Hamilton pilot kicks off in June 2017.  For more information visit joinbloom.com
For more information contact:
Andrew Ringer
CEO Alaunus
OR:
Ellyn Winters
Ignition Communications
PR for Alaunus
Show
Hide