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Veego Smart Home Tech Provider Raises $13 Million

The Veego founders. Photo PR

Veego Software is an Israeli startup that provides new tech for connected home customer experiences. Veego just raised $13 million in a Series A financing round led by Magenta Venture Partners, a venture capital firm focused on early-stage Israeli startups in the artificial intelligence (AI), IoT, and enterprise software domains.

Smart homes are the way of the future. Remember every time that you got home to find something wrong? You just got home after a long and hard day, ready for the sanctuary of your living room. But then you find that there was an electrical short and you got home from work to find that the power had gone out. Now everything that was in the freezer melted, or was ruined. Or the washing machine stopped in the middle and now you have to do the laundry all over again. Or maybe something worse.

And even if it is something minor, who needs such headaches when they first walk through the door after a long day of work?

Now think about what smart homes will be able to do in the future. They will be able to alert you to any such problems during the day. They will be able to connect online with an electrician or a plumber in an emergency, and then let them in the house when the time comes. Maybe they will even be able to perform needed maintenance work themselves.

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It’s kind of like that episode on The Simpsons when the family moves into a fully automated nhouse. It cleans itself, does the laundry and even the cooking. In the end Marge Simpson is left bored out of her mind because she has nothing to do.

And if something breaks, then the smart home will also be able to connect you with the retailers who provide the products that you need. But more than that, they will monitor your daily activities in order to see what it is that you need on a regular basis and make the orders for new goods. Then you won’t ever have to find that you are out of milk for your morning cup of coffee ever again.

This is where companies like Veego step in.

Using artificial intelligence and machine learning, Veego proactively detects, identifies, analyzes the root cause, and resolves errors and malfunctions in devices and services across the complex connected-home ecosystem. Veego quantifies how well connected devices and services are meeting performance goals and serving subscribers.

And there are a great many services that need to be provided on a daily basis, including ones that you probably have never even thought about.

These include the configuration of devices. Even after setup, devices often have to be re-configured to accommodate other elements of the connected home. The integration across devices from many different vendors is haphazard and beyond the service provider’s control. Overseeing all of the software which will be needed for smart homes and protection against cyber-attacks.

“We are excited to have Magenta Venture Partners join our family of incredibly supportive investment partners,” says Amir Kotler, Co-Founder and CEO of Veego. “Veego is the only solution on the market providing Communication Service Providers (CSPs) with Application-level Home Quality of Experience data and actionable insights, enabling them to personalize and optimize their service offerings. We are building on these successful engagements with global CSPs and ecosystem partners to enable further expansion.”

“This round will also enable us to enhance our machine-learning models that deliver real-time analytical capabilities across multiple use cases and expand our reach globally,” added Kotler.



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