Haven Lock’s Shark Tank Net Worth

HavenLock’s founders, Alex Bertelli and Clay Banks have a net worth of 9 Million USD as of 2022. HavenLock was valued at $8.3 million by its owners at the time of Shark Tank’s appearance in 2021. As of 2022, Haven Lock is worth $8 million.

The company generates annual revenue of approximately $4 million[2]. Haven Lock is still in business and operating profitably in various parts of the country.

What is Haven Lock and Who is the Founder of Haven Lock?

Haven Lock is a more secure type of lock that serves as an alternative to the traditional deadbolt lock. It is ten times stronger than a standard lock and is placed at the bottom of a door for easy fitting.

The lock comes in two versions: the Haven Mech, which is a manual lock that can be triggered by foot pressure, and the Haven Lock Connect, which can be locked or unlocked via Bluetooth through the Haven Lock Mobile App.

The founders of Haven Lock are Alex Bertelli and Clay Banks. Bertelli is a decorated Special Operations helicopter pilot who has received various awards, including the Distinguished Flying Cross, Bronze Star with Valor, Air Medal with Valor, and the Boeing Rescue Award.

After serving the United States as a Special Operations Aviation officer, Bertelli received an MBA from UNC-Chapel Hill and a graduate degree in consulting from Penn State. He is also the CEO of The Arrowhead Group, an economic development business, and Haven Lock.

Banks, on the other hand, has a Bachelor of Science in Communications and Advertising from the University of Tennessee-Knoxville.

He previously founded Pure Life Industries, which used emerging technology trends to create new ways for consumers to engage with them. Banks also served as the regional director of the Tennessee Department of Economic and Community Development before becoming the COO of Haven Lock.

Bertelli and Banks created the concept of Haven Lock after observing people in Afghanistan installing steel bars at the top, middle, and bottom of their doors to secure their homes.

They saw that this method was more secure than a single lock at the center of the door, leading them to create the Haven Lock, a wedge that secures the door from the inside.

The lock is made of military-grade steel, nylon, and polycarbonate and can be controlled via a key fob or the Haven app. Guests can even be given remote access to unlock the door. Bertelli manufactures Haven Locks in Tennessee and employs a significant number of veterans.

Although they attempted to crowdfund the project in 2014, they were unsuccessful. Nevertheless, with the help of Banks, a business and economic development expert, Bertelli has since grown the company.

Haven Lock Shark Tank Pitch

Clay and Alex presented their company, Haven Lock, on Shark Tank’s seventh season, episode 9. They asked for a 6% stake in their company in exchange for $500,000, which valued their company at $8.3 million.

Alex wanted to demonstrate how easy it was to break down a door with a standard lock, but the lock was too strong, and he had to drop-kick the door multiple times to finally break it open, which made the Sharks laugh.

The company had recently received an order from 100 schools in Melbourne, Arkansas, as a lockdown security measure.

Mark saw the potential in the product and was interested, but the Sharks were not impressed with the margins. The mechanical model cost $67 to make and $182 to sell, and Bluetooth models ranged from $82 to $349.

The Sharks believed the profit margins were too low to support the company’s needs. Lori Greiner did not know enough about the product to make an investment. Kevin O’Leary and Barbara Corcoran agreed with Mark, but Daymond John was interested in the potential of the lock.

Despite John’s interest, he declined to invest, advising the entrepreneurs to be more selfish for themselves. The Sharks did not make an offer, but Haven Lock partnered with Terminix, a pest control company, to offer their locks to Terminix’s customers in eleven cities, with the potential to expand nationwide.

Although Haven Lock did not secure a deal on Shark Tank, the company is still in operation and has an annual revenue of $4 million as of June 2021.

They were featured on the Shark Tank Greatest of All Time Special in February 2020 as one of the “Greatest Pitch Fails,” which Mark found to be the funniest pitch he had ever seen on the show.

Haven Lock’s Net Worth

Clay and Alex appear on Shark Tank in search of $500,000 for a 6% stake in their firm. This equates to an $8.3 million value.

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Haven Lock Shark Tank Updates

Haven Lock, an innovative smart door lock company, appeared on Season 10 Episode 18 of Shark Tank. The company was seeking an investment of $500,000 for 6% equity but did not receive a deal from any of the sharks.

Haven Lock sells two versions of locks that are anchored to the floor, fortifying it at the base, which the founders say is the strongest part.

The lock is a wedge-style lock that sits in between the floor and the door’s bottom, engaging with the door to make it ten times more resistant to physical impact.

As of 2022, Haven Lock is worth $8 million and generates annual revenue of approximately $4 million. The founders of HavenLock, Alex Bertelli and Clay Banks, have a net worth of 9 Million USD as of 2022.

Despite not receiving a deal on Shark Tank, Haven Lock is still in business and operating profitably in various parts of the country.

Haven Lock Shark Tank Table Summary:

ATTRIBUTE	VALUE
Founders	Alex Bertelli and Clay Banks
Haven Lock	A more secure type of lock that serves as an alternative to the traditional deadbolt lock
Lock Versions	Haven Mech and Haven Lock Connect
Lock Features	Manual lock that can be triggered by foot pressure and a Bluetooth-enabled lock that can be locked or unlocked via the Haven Lock Mobile App
Appearance on Shark Tank	Season 7, episode 9, and Season 10, episode 18
Investment Sought on Shark Tank	$500,000 for a 6% stake, which valued the company at $8.3 million
Valuation	$8.3 million at the time of Shark Tank’s appearance in 2021, and $8 million as of 2022
Revenue	Approximately $4 million per year
Net Worth of Founders	$9 million as of 2022
Partnership	Haven Lock partnered with Terminix to offer their locks to Terminix’s customers in eleven cities.
Shark Tank Outcome	None of the Sharks made an offer.

Haven Lock FAQS

What Is Haven Lock, the Founder, and How Does Haven Lock Work?

Haven Lock is a more secure type of lock than a typical deadbolt lock. It was founded by Alex Bertelli and Clay Banks.

Bertelli, a former Special Operations Aviation officer, realized that most locks on the market are not enough to stop burglars, and many people create their own different preventions.

The Haven Lock is 10 times stronger than normal locks and can be readily installed at the bottom of a door.

It comes in two varieties: the Haven Mech, which is a manual lock activated by the press of one’s foot, and the Haven Lock Connect, which can be secured over Bluetooth using the Haven Lock Mobile App.

When Haven Lock is locked, it has been tested to last up to 10 times longer than a deadbolt. Haven Lock Connect uses military-grade encryption to protect against digital attacks.

The company generates annual revenue of approximately $4 million and is still in business and operating profitably in various parts of the country. As of 2022, Haven Lock is worth $8 million, and its founders have a net worth of $9 million.

What Happened To Haven Lock After The Shark Tank?

Haven Lock is a smart door lock company that was featured on Season 10 Episode 18 of Shark Tank.

The founders, Alex Bertelli and Clay Banks asked for $500,000 for 6% equity but did not receive a deal from the sharks. Despite not receiving a deal, Haven Lock has continued to grow and still operates.

Haven Lock sells two versions of locks that are anchored to the floor, fortifying it at the base, which the founders say is the strongest part. The lock engages with the door to make it ten times more resistant to physical impact. Haven Lock is known as the smarter, stronger home lock and is said to be 10 times stronger than a deadbolt lock.

Haven Lock will be featured in a Shark Tank special on ABC’s 20/20 called “Shark Tank: Greatest of All Time”. The show is described as “The most successful products and unforgettable pitches”.

How Much Was Haven Lock Seeking In The Shark Tank?

Haven Lock was seeking an investment of $500,000 for 6% equity when they appeared on Shark Tank. The co-founders, Alex Bertelli and Clay Banks pitched their smart door lock company to the sharks in Season 10 Episode 18.

Despite an entertaining demonstration of the company’s smart lock products for households, the sharks did not make a deal with Haven Lock.

Did Haven Lock Get The Deal From The Sharks?

No, Haven Lock did not get a deal from the Sharks on Shark Tank. The founders, Alex Bertelli and Clay Banks asked for $500,000 for 6% equity, but none of the Sharks made an offer.

Despite not securing a deal, Haven Lock is still in operation and generating an annual revenue of approximately $4 million as of June 2021. The company has also partnered with Terminix, a pest control company, to provide locks to their consumers in eleven cities.

Haven Lock is a smart door lock company that offers a more secure option than a typical deadbolt lock. The lock is 10 times stronger than normal locks and can be installed at the bottom of a door.

There are two varieties of the Haven Lock: the Haven Mech, which is a manual lock activated by the press of one’s foot, and the Haven Lock Connect, which can be secured over Bluetooth using the Haven Lock Mobile App.

The founders of Haven Lock, Alex Bertelli, and Clay Banks, have a net worth of $9 million as of 2022.

Where Is Haven Lock?

Haven Lock is a smart door lock company that provides military-grade strength smart door locks and lockdown systems for homes, schools, and businesses. The company’s products can be locked and unlocked remotely by mobile devices.

Haven Lock was featured on Season 10 Episode 18 of Shark Tank, where the founders, Alex Bertelli and Clay Banks, were seeking $500,000 for 6% equity. However, they did not strike a deal with any of the sharks.

Haven Lock’s products are available for purchase at various retailers, including Home Depot and Lowe’s. The company’s mechanical locking wedge fortifies the door at its strongest point, the base.

Haven Lock is made of military-grade steel and nylon and industrial-strength polycarbonates, making it ten times stronger than a deadbolt and more effective than a bar, chain, or swing lock. The lock can survive an attack with an ax, boot, battering ram, or even a SWAT team.

What Is The Current Valuation Of Haven Lock?

As of 2023, Haven Lock is worth an estimated $8 million. The company was valued at $8.3 million by its owners at the time of its appearance on Shark Tank in 2021. Haven Lock generates annual revenue of approximately $4 million.

The founders of Haven Lock, Alex Bertelli, and Clay Banks, have a net worth of $9 million USD as of 2022. Haven Lock provides a smart wedge that rests at the base of a door, transforming the way we see home security.

What Are The Haven Lock Competitors?

Haven Lock is a smart lock company that produces locks for residential and commercial applications. Haven Lock’s competitors include Level Home, which provides solutions for the smart, connected home.

Level Home’s Level Lock is a smart lock that transforms an existing lock into a smart lock in minutes, allowing consumers to control their lock from anywhere.

Other competitors of Haven Lock include Amaryllo Inc, Pacific Lock Co, NESS Corp, and Scout Security Ltd. To find more alternatives to Haven Lock, Knoji has researched and summarized the best options in a Haven competitor’s grid.

The grid compares Haven Lock’s features and pricing to other smart lock brands and stores, allowing consumers to make an informed purchase decision.

How do they reset their safe haven lock?

If customers are having trouble setting up their lock, they should erase it from their smart device, press and hold the Haven Lock’s Pair button for 10 seconds, and then resume the setup procedure.

How does the Haven door lock work?

Haven Lock’s goal is to physically fortify their doors against burglars while also allowing for convenient, smart, keyless entry.

When the Haven Lock is fitted at the base of an inside-swinging door, a military-grade wedge rises up to prevent the door from opening.

How do they charge their haven lock?

Their lock, which will be installed at the bottom of their door. Connect the charging cord (USB end) to the provided power adapter.

Plug the charging wire into the Charging Port after opening the Haven Control Panel lid (C) (D). Allow 6-8 hours for Haven to fully charge before using.

Who owns Haven Lock?

Clay Banks and Alex Bertelli

Will Haven work on their door that opens outwards?

No, Haven only works on inward-opening doors (inswing doors).

Will Haven work on their double doors?

Haven will begin work on its double doors by positioning the unit in the centre of the aperture. This will assure the security of both doors.

Will Haven fit their door?

Haven is compatible with the majority of inswing doors. When unlocked, Haven stands.8 inches (21mm) tall.

In order to accommodate Haven, the space between their floor and the bottom of their door should be more than.8 inches (21mm).

What if their door has a gap greater than 1.5 inches?

Haven will rise to 1.5″ height from the floor when secured & secure. Their Haven comes with a single riser that also serves as a template.

If they require extra risers, please visit their website and get them.

What type of door do they need to maximize Haven?

They recommend utilizing Haven with steel, aluminium, or wood doors with sturdy interiors. Any door with a hollow core or a foam inside will perform less well.

What will Haven connect integrate with?

Haven connect bluetooth – If they own/purchase their Haven Hub, they will be able to operate their Haven Connect remotely as well as connect to Amazon’s Alexa.

They may utilize the Hub to control access from anywhere they have an internet connection, using the Haven Lock smartphone app or the myhavenlock.com online site.

Receive notifications when people lock/unlock their Haven Connect, and check the Lock Status from anywhere.

What mobile devices will be compatible with Haven connect?

Haven Connect Bluetooth – The Haven key fob and gateway hub are Bluetooth compatible with the Haven Lock mobile app for Apple and Android phones.

Is Haven resistant to water?

Haven was built to withstand the weather.

Despite the fact that the interior electrical components are securely enclosed in waterproof chambers, the Haven should never be immersed in water.

The unit’s exterior components are resistant to moisture from rain and snow, and they have specific conformal coatings to withstand rust, wear, and tear.

How powerful is Haven mech?

All Haven Lock products are 10 times stronger than a standard deadbolt.

What Is Haven made out of?

Haven is constructed from a mix of components that provide the necessary strength and absorbency to safeguard their house, including a 30″ steel baseplate paired with injection molded DelrinTM and industrial grade nylon covered by rubber and plastic gaskets.

What is the net worth of Alex Bertelli?

Alex Bertelli’s net worth is unavailable.

What is the net worth of Clay Banks?

Clay Banks’s net worth is unavailable.