Bruce Miller
Toronto, ON (CAN)
Role(s):
Founder/Owner/Principal
TriVista Inc.
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Startup
Location:
Toronto
Industry:
Technology/Web
Year Founded:
2001
Number Employees:
1-10 people
Description:
TriVista Inc., The Smart Home People™, is building Canada’s first national home automation provider, with offices planned for five major cities, and projected revenue to $11M by 2012.
Already established in Ottawa and Toronto, the company intends to open regional offices in Vancouver, Calgary, and Montreal over the next 2 years. The market for home automation technology solutions in Canada is estimated to be $104M in 2008, growing to $187M in 2012. We are at the very early stages of this growing market – few Canadians today understand and appreciate home automation. TriVista believes it can capture approximately $11M, or 4%, of this market by 2012. TriVista expects to be the first national chain offering national brand recognition, product sourcing channels, and consistent service levels across the country.
The company was financed in Oct 2007 to $620,000, The founders have since invested approximately $200K of additional debt into the company to fund operations throughout 2008.
The company is seeking an additional $250K of second-stage financing, to fund targeted marketing activities to reach its sales targets, and to fund the establishment of its next planned facility in Vancouver. TriVista believes it will be an attractive acquisition target by 2012. Potential acquiring companies could include large homebuilders, security systems manufacturers, A/V chains, or even telecom companies.