Alarm.com, a company providing security and home automation products, has filed for an initial public offering (IPO) and is looking to raise up to $75 million through the offering, as per documents filed with the US Securities and Exchange Commission. The company is trying to make headway in the market for smart homes before more established companies such as Google Inc (NASDAQ:GOOGL) and Apple Inc. (NASDAQ:AAPL) hit the home automation market. The S-1 filing lists Credit Suisse, Goldman Sachs, and Bank of America Merrill Lynch as key underwriters.
Alarm.com was founded in 2000, and for the last five years has been trying to penetrate the home automation sector, inking deals with other service providers to offer products to consumers to enable them to automate their homes. The automation entails controlling lights, appliances, door locks, and other things remotely.
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