Keen Home Smart Vent Shark Tank Net Worth 2023
Keen Home is a company that produces smart vents and accompanying smartphone apps to create different heating and cooling zones in homes. They appeared on Shark Tank in 2015 and received an investment of $750,000 for 10% or $750,000 for 13% from Robert Herjavec.
The company was valued at $7.5 million during the pitch[3], but Kevin O’Leary later estimated it to be worth around $5 million. As of September 2022, it is unclear what the current net worth of Keen Home is.
What Is Keen Home Smart Vent?
Keen Home Smart Vent is a company that produces air vents that are wirelessly connected and can be installed in existing floor, wall, and ceiling vents.
Rather than relying on a single thermostat to regulate the temperature in your entire house, you can control the temperature in each room and vent using your smartphone.
For homeowners, it can be frustrating to deal with uncontrollable factors such as temperature fluctuations caused by vents.
However, with Keen Home Smart Vent’s control-oriented function, you can use their mobile app to adjust the temperature in a particular room by regulating the back-fitted vents.
Ryan Fant, the inventor of Keen Home smart vents, was inspired to create a smartphone app to adjust vents after experiencing discomfort from extreme temperatures while sleeping.
After conducting a trial at his parents’ house, Fant realized that his idea was feasible and teamed up with Nayeem Hussein to raise funds for its development.
Who Is the founder of Keen Home Smart Vent?
Keen Home Smart Vent was founded by Ryan Fant and Nayeem Hussein, two friends from New York who became entrepreneurs. Fant came up with the idea for the app after being annoyed by heat vents blowing hot air in his face while he slept.
He wanted to be able to remotely block vents using his smartphone, and when he discovered that he could save money by closing vents in unused rooms, he began developing Keen Home.
The project was initially funded through a successful Indie Go-Go campaign that raised $40,000, and the startup has since attracted significant investment, raising $1.6 million in venture finance to date. Keen Home was a hit at the 2015 Consumer Electronics Show in Las Vegas.
The concept behind Keen Home is simple: by retrofitting standard HVAC vents with smart vents, homeowners can create separate heating and cooling zones throughout their homes. Fant asks, “why heat a space you’re not using?” By turning off heat in unoccupied or rarely used rooms, homeowners can save a lot of electricity.
The ability to operate the system remotely via smartphone is a major draw, and Keen Home now works with many of the leading smart thermostats, with the goal of achieving universal compatibility.
What Happened to Keen Home Smart Vent at Shark Tank Pitch?
In Shark Tank episode 6 of Season 17, Ryan Fant presented Keen Home, smart HVAC vents, which utilize the “internet of things.” Ryan and his business partner, Hussein, were seeking a Shark to invest $750,000 in exchange for a 10% stake in their company, which is valued at $7.5 million.
The purpose of the investment was to expand their business quickly. They explained that relying on a single thermostat to control the temperature in each room is inefficient, and their product could save between 10% and 30% on costs.
They demonstrated how their product worked and shared that they had invested $50,000 of their own money and $1.5 million in venture capital. They also revealed that they had already sold 35,000 units to Lowes.
While Mark believed that Keen Home was just a feature, not a product, Lori was confused by the product and chose to opt out. Mr. Wonderful offered $750,000 for 25% equity shares, which the men felt was too much. Kevin and Robert agreed with him.
Daymond offered $750,000 for 25% equity shares and the opportunity to produce the product in one of his facilities. Robert was so impressed with the product that he offered $750,000 for 20% equity shares.
Mr. Wonderful then made another offer of $750,000 at an interest rate of 8.5% plus 10% equity. Lori invited Kevin to join Mr. Wonderful, but Robert countered with a bid of $750,000 for 13% equity shares.
Daymond reduced his offer to $750,000 for 20% equity shares, but Robert stated that he was against equity debt. After much deliberation, the men agreed that they wanted an all-in partner and accepted Robert’s offer. They left the pitch with a deal.
What Happened To Keen Home Smart Vent After Shark Tank?
The agreement with Robert has been finalized, and Keen Home is set to be featured in episode 724 with an update just a year after its initial airing. During the update, Keen Home shared the news of their increased sales with Robert.
In July 2019, Keen Home merged with Ecovent, which also utilized comparable technologies but with a focus on the construction and HVAC sectors. Keen Home was designed for DIY enthusiasts, and the integration of smart thermostats by both companies was a natural fit.
As part of the merger, Keen Home was acquired by Connect M Technology Solutions for an undisclosed amount. As of January 2022, the company is still in operation and has generated a lifetime revenue of $2.6 million.
Competitors of Keen Home Smart Vent
Keen Home Smart Vent competes with similar smart vents in the market. The main competitors are Ecovent, Honeywell Lyric and Wink smart home.
Net Worth of Keen Home Smart Vent
The company valuation was $7.5 million during the pitch, after the investment done by Robert Herjavec the company worth $5.8 million.
In 2021 the company was acquired by Connect M Technology Solution for unknown amount and hence the company net worth is unknown.
Keen Home Smart Vent Shark Tank Episode Summary
| Company/Product | Keen Home Smart Vent |
| Shark Tank Episode | Shark Tank Season 6 Episode 17 |
| Founder & Entrepreneur | Ryan Fant |
| Amount Asked For | $750,000 for a 10% stake in Keen Home Smart Vent |
| Deal: Accepted Offer | $750,000 for 20% equity of the company. |
| The Shark Investor | Robert Herjavec |
| Business Net Worth | Company net worth $5.8 million |
| Business Status | The business is still in operations |
Keen Home Smart Vent Shark Tank Updates
Keen Home Smart Vent is a part of the Keen Zoning System that allows individual room temperature control to enhance comfort, control, and energy efficiency. The Smart Vents adjust airflow to over-conditioned rooms and redirect this airflow to rooms that need it most.
The vents have embedded temperature and pressure sensors to monitor the performance of the HVAC system and airfoil louvers designed for precise and quiet operation. The vents are wireless and communicate with each other via a Zigbee network.
They have a 2+ year battery life with included 4 AA batteries. The Smart Vents work with Nest, ecobee, Lowe’s Iris, and SmartThings.
Keen Home recommends replacing all vents in each room you would like to upgrade. The interchangeable faceplate is easy to clean and paintable. The Keen Zoning System consists of Vents, a Smart Bridge or Hub, Sensors, and a smartphone app for full control from anywhere.
The Smart Bridge allows the Keen Home smartphone app to set schedules, set specific room temperatures, and control compatible thermostats.
The Keen Home app can be used to create a schedule for Smart Vents to be open/closed throughout the day, set custom room temperatures, and adjust the Smart Vent level (0-100%) to control how much airflow reaches a room.
The Keen Home Smart Vent costs between $99.99 and $129.99 and includes 12 months of free Keen Cloud services and premier customer support.
The Smart Vents can create an 8-degree difference between rooms. Customers have reported achieving better comfort without spending thousands of dollars and cutting energy bills by almost 15% .
Keen Home Smart Vent FAQs
What Is Keen Home Smart Vent?
Keen Home Smart Vent is a wireless smart HVAC vent that can be managed individually by an app, allowing you to control the temperature of each room by using a smartphone.
The Smart Vents form the foundation for the Keen Zoning System by intelligently opening and closing based on individual room temperature preferences set in the Keen Home app.
The vents have embedded temperature and pressure sensors to monitor the performance of your HVAC system and airfoil louvers designed for precise and quiet operation. They are also wireless and communicate with each other via a Zigbee network.
The Keen Home Smart Vent allows homeowners to create different heating and/or cooling zones in their homes by programming when vents should be open or closed. The Smart Vents adjust airflow to over-conditioned rooms and redirect this airflow to rooms that need it most.
The Keen Zoning System uses individual room temperature control to enhance your comfort, control, and energy efficiency. The Smart Bridge and Temp Sensors allow the Keen Home smartphone app to set schedules, set specific room temperatures, and control compatible thermostats.
Keen Home Smart Vents have experienced continued success and growth following their debut on Shark Tank. They have added air filtration and purification products with their Smart Filter, and they’ve expanded their product line with Trim Kits that allow their vents to be used with more duct sizes.
Keen Home merged with Ecovent, a whole-home zoning system competitor, in 2019.
What Is The Current Valuation Of Keen Home Smart Vent?
Keen Home is a company that produces smart vents and accompanying smartphone apps to create different heating and cooling zones in homes. Keen Home appeared on Shark Tank in 2015 and received an investment of $750,000 for 10% or $750,000 for 13% from Robert Herjavec.
The company was valued at $7.5 million during the pitch.
Keen Home has sold over 35,800 Smart Vents and grossed over $2.6M in revenue in the 12 months since launch[2]. The company has raised more than $4.4M in financing from high-profile investors such as Techstars Ventures, Galvanize Ventures, and R/GA Ventures.
Keen Home has generated over $1.9 million in sales to date, having shipped over 28,000 units.
There is no information in the provided search results about the current valuation of Keen Home Smart Vent. However, the company’s sales and revenue figures suggest that it has been successful in the market.
What Happened To Keen Home Smart Vent After Shark Tank?
Keen Home is a company that produces smart vents and accompanying smartphone apps to create different heating and cooling zones in homes. The company appeared on Shark Tank in 2015 and received an investment of $750,000 for 10% or $750,000 for 13% from Robert Herjavec.
The deal with Robert closed, and Keen Home was set to be featured in episode 724 with an update just a year after its initial airing. During the update, Keen Home shared the news of their increased sales with Robert.
As of May 2022, Keen Home is still in business. However, the smart heating and cooling vents were still in pre-order stage 26 months after the crowdfunding campaign ended and five months after appearing on the Shark Tank Show.
It is unclear whether the company has started shipping its products or if it has expanded its business since its appearance on Shark Tank.
Is Keen Home Smart Vent Still In Business?
Yes, Keen Home Smart Vent is still in business as of May 2022. The company was acquired by Connect M Technology Solutions for an undisclosed amount in a merger that took place in July 2019.
The acquisition did not affect the company’s operations, and it continues to produce wireless smart HVAC vents that can be controlled independently for each room via a smartphone app.
The smart vents allow homeowners to create different heating and cooling zones in their homes by programming when vents should be open or closed, which can lead to significant energy savings
Keen Home Smart Vent was founded by Ryan Fant, who appeared on Shark Tank in 2015 to pitch the product. Robert Herjavec made an offer of $750,000 in exchange for 13% equity of the company, which was not accepted.
The company’s smart vents work with some of the new, major “smart” thermostats and are working toward universal compatibility. Keen Home Smart Vent is located in the United States, but the exact location is not specified in the search results.
What is Keen Home Smart Vent?
Keen Home Smart Vent is a smart vent for your heating and cooling system. It is controlled wirelessly through a smartphone app.
By turning off vents in rooms you’re not using, it may save you money on your power bill.
Who is the founder?
Ryan Fant serves as the company’s founder and CEO. He stepped out of a career in software to bring the smart vent to market.
How much were they seeking on Shark Tank?
They were seeking for $750,000 for a 10% stake in their company, worth $7.5.
Did they have the deal?
Yes, Robert Herjavec made an offer of $750,000 in exchange for 13% equity of the company.
Is Keen Home Smart Vent still in business?
Yes, the company is still in business but is had been acquired.
Who acquired Keen Home Smart Vent?
Keen Home Smart Vent is now owned by Connect M Technology Solutions.
Where is Keen Home Smart Vent located?
Keen Home Smart Vent is based in San Diego, CA.
What Keen Home Smart Vent the app?
The app is free for download on the App Store and Google Play. The interface to control the vents is designed to be intuitive and easy to use.
It can be controlled from anywhere by simply turning on or off the device from your smartphone or tablet.
How does Keen Home Smart Vent work?
It has a small sensor that attaches to the air vent. Plug the Keen Home smart vent into an AC wall outlet and download the free app on the smartphone.
Is it a good idea to install Keen Home Smart Vent?
When a room demands a specific amount of airflow, the smart vent boosts the air pressure (by closing vents on other rooms).
On the other side, when a room has an excessive amount of airflow, smart vents can assist in redirecting this surplus airflow to another room.
Are Keen Home Smart Vent vents truly effective?
Smart Vents Are Completely Safe (and More Affordable). Unless users cover all of their vents while operating their HVAC system (which user should not), there is no situation in which enough pressure is produced in the system to result in anything other than increased airflow from open supply vents.
How many Keen Home Smart Vent do I require?
Each enclosed space must have a minimum of two vents, each on at least two separate sides of the outside walls. The flood vent opening’s bottom must not exceed 12 inches above the neighboring slope.
Is Keen Home Smart Vent safe?
Users may have heard that smart vent technology is potentially detrimental to their HVAC system. Contrary to popular belief, adjusting or blocking a few vents will have no adverse effect on either furnace or air conditioner.
How are Keen Home Smart Vent energized?
The vents are powered by four AA batteries that last between three and five years. At a minimum, the system requires one smart hub and one compatible smart thermostat.
Is it necessary to close Keen Home Smart Vent in unoccupied rooms?
Closing vents can actually consume more energy than leaving them open. Because closing vents in empty rooms causes the central air system to transfer the extra air to other areas of the home.
Do I need to pay for Keen Home Smart Vent?
The app is free. There are no monthly fees.
Does Keen Home Smart Vent require a tech expert to install?
No, it does not require professional installation. It is fully installed in about an hour.
What is the net worth of Ryan Fant?
The net worth of Ryan Fant is $1.5 million.
