How Much Did Brilliant Raise? Funding & Key Investors

Brilliant has successfully raised significant funding through multiple rounds, including a Series B round, with backing from notable investors such as Peak State Ventures and BoxGroup. The company specializes in smart home automation, offering products like smart home controls, smart dimmer switches, and smart plugs.

Keep reading to explore the intricacies of Brilliant's fundraising journey and the investors backing this innovative platform.

What Is Brilliant?

Brilliant, founded on June 1, 2015, is a home automation company headquartered in San Mateo, California. The company operates in the consumer electronics, digital media, home improvement, and smart home industries.

Founded by Aaron Emigh, Jeremy Hiatt, and Steven Stanek, Brilliant developed the Brilliant Control, a smart home control system designed to replace existing light switches. The company has an employee count ranging from 11 to 50.

How Much Funding Has Brilliant Raised?

1. Seed Round
   • Amount Raised: $3M
   • Date: March 2016
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial product and bring it to market.
2. Series A
   • Amount Raised: $21M
   • Date: October 2017
   • Lead Investors: August Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale production and expand the team.
3. Angel Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2020
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To gain strategic advice and early-stage funding.
4. Venture Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2021
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further product development and market reach.
5. Series B
   • Amount Raised: $40M
   • Date: August 2021
   • Lead Investors: Next47, Celesta Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product offerings and enhance sales strategy.

Total Amount Raised: $64M

Current Valuation: Not publicly disclosed

Key Investors

• Celesta Capital
  • Details: Celesta Capital is a venture capital firm that led Brilliant's Series B financing round. Nicholas Brathwaite, General Partner at Celesta Capital, joined Brilliant's board.
  • Investment Focus Areas: High-growth technology companies, new construction, smart home technologies.
  • Notable Investments: Not publicly disclosed.
• Next47
  • Details: Next47 is a global venture firm that also led Brilliant's Series B financing round. Matthew Cowan, General Partner at Next47, joined Brilliant's board.
  • Investment Focus Areas: Innovative technology companies, smart home experience.
  • Notable Investments: Not publicly disclosed.
• August Capital
  • Details: August Capital is a venture capital firm that participated in Brilliant's Series B financing round and is also an existing investor.
  • Investment Focus Areas: Early-stage technology companies, innovative products, strong growth potential.
  • Notable Investments: Not publicly disclosed.
• Peak State Ventures
  • Details: Peak State Ventures is a venture capital firm that has invested in Brilliant. They focus on early-stage investments in technology-driven companies.
  • Investment Focus Areas: Technology-driven companies, early-stage investments.
  • Notable Investments: Not publicly disclosed.
• BoxGroup
  • Details: BoxGroup is a seed-stage venture capital firm that has invested in Brilliant. They are known for backing early-stage technology startups.
  • Investment Focus Areas: Early-stage technology startups, seed-stage investments.
  • Notable Investments: Not publicly disclosed.

What's Next for Brilliant?

Brilliant stands at the cusp of significant growth, driven by the increasing demand for smart home technologies. With a $40 million Series B financing round, the company is poised to expand its product offerings and enhance its sales strategy, targeting single-family home builders, multifamily developers, and property managers. This expansion is bolstered by strategic partnerships with industry leaders, positioning Brilliant to capture a larger market share.

Future fundraising opportunities appear promising as Brilliant continues to innovate and integrate with other smart home devices. The company may attract further investments to support its growth and development. However, challenges such as competition from other smart home technology providers and the need to keep up with rapid technological advancements remain. Ensuring seamless integration with a wide range of devices will be crucial for maintaining its market position.

Use Clay to Get Funding Data

Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Brilliant and gather other critical business insights.

Sign up for free to start exploring the wealth of information available at your fingertips and gain a competitive edge in your sales efforts.