Roost acquired; new owner discontinues Security360
Roost Home Telematics was acquired by an undisclosed company at the end of August. The new owner has discontinued Roost’s Security360 and WS360 home-security products and associated monitoring services while apparently retaining Protection360, its commercial-property telematics product, which remains available on the company’s website.
Sherwood Partners managed the sale process. The firm specializes in corporate restructuring, managed liquidations and assignments for the benefit of creditors.
The acquisition also ends Roost’s relationship with investor and insurance partner USAA , which primarily offered the Security360 solution.
Security360 launched in 2021 as a white-label home-security system that insurers could offer under their own brands. It combined connected security devices, an insurer-branded mobile app and professional monitoring. Roost later partnered with insurers including Desjardins to distribute the product.
Roost raised approximately $16.9 million across three funding rounds from investors including USAA, Aviva Ventures, Desjardins Venture Capital, DCM Ventures, RPM Ventures and Fosun RZ Capital.
