Roost, a US-based smart home technology developer backed by conglomerate Legend Holdings, has secured $5.5m in a series A round featuring military-focused financial services provider USAA.
The round was led by venture capital firm RPM Ventures and included DCM Ventures, Start Garden and Center Electric, according to TechCrunch. Roost previously received $975,000 in seed capital from Legend Star, the early-stage investment arm of Legend Holdings, and DCM in October 2014.
The funding was revealed as Roost launched its first product, the Roost Smart Battery, a $35 device that can convert any existing smoke alarm that uses a 9V battery into a smart smoke alarm, capable of notifying users of fires wherever they are through their phones.