Company Info

Company Name

FireBot

Member Type

Startup

Website

http://firebotsuppression.com/

Description

A device to detect and stop stovetop fires.
FireBot is a small, battery powered, device that will automatically activate in case of a fire to properly extinguish a stovetop fire to prevent damage and injury. 
 
FireBot inconspicuously attaches to the underside of your range hood, out of sight. It waits until it reads an abnormally high temperature that signals an out-of-control stovetop fire.

Upon activation, it sprays environmentally friendly, non-toxic, water-based fire suppressant to extinguish a fire — even a grease fire on all four burners. At the same time, it activates an audible warning alarm, sends a z-wave signal to turn the electric or gas to the stove off and notify the owner or monitoring station of activation or even low battery.

FireBot costs $45 to manufacture; FireBot will retail for $165. There are over 100 million kitchens in the United States. If we can place a FireBot in just 1% of those kitchens, that’s one-million units sold, which equals $165 million in gross sales, and that’s just the U.S.!  We hope we can provide the solution to put an end to this yearly problem.

Sector(s)
Subsector(s)

Fire Protection

Founded Date

May 15, 2015

City

Lorton

State

Virginia

ZIP/Postal Code

22079

Country

US

Contact Person

Contact First Name

Mark

Contact Last Name

Baldino

Job Title

President

VIRAL

VIRAL Level(s)

9

Team VIRAL

4

Problem & Vision VIRAL

6

Value Proposition VIRAL

4

Product VIRAL

4

Market VIRAL

5

Business Model VIRAL

5

Scale VIRAL

7

Exit VIRAL

6

VIRAL Level 9: Master of your Destiny

You’re #1 or #2 in your market and on the verge of a profitable exit for investors, with multiple acquirers actively pursuing you.

What investors at this stage are likely to like about your business:

  • Revenues:

    You’ve nailed the market, regularly beating competition in your industry revenues. Customers are renewing and you should be able to articulate your renewal rate. You can point to industry benchmarks and show that you’re beating those revenue benchmarks month over month. Your customer base is growing every month across multiple markets.

  • Brand:

    Customers are coming to you, not the other way around. You have numbers on inbound versus outbound leads and at this point your unit economics are extremely strong and you’re tracking toward bottom line profitability.

  • Product:

    Your product, or suite of products, is delighting customers in multiple markets and your team has a clear product roadmap on how to continue to iterate and stay ahead in the market.

What investors at this stage are likely to ask questions about:

  • Exit Strategy:

    At this point you’re going to need a team that can navigate a successful, profitable exit. What is your exit strategy and who on your team has the expertise in M&A, IPO, etc. to navigate this process?

  • Unit Economics:

    You have strong unit economics in at least one market but you may not in all of your customer segments – where are you unit profitable, where are you not, and what’s your strategy to get to bottom line profitability?


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FireBot

Profile picture of FireBot

@firebot

active 2 months ago