Smart Lighting Company Announces Record 2023 Growth and Hires Chief Financial Officer and Chief Revenue Officer to Scale Further in 2024

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Dec 12, 2023, 09:00 ET

SEATTLE, Dec. 12, 2023 /PRNewswire/ -- The creator of the industry's first modular smart lighting system, Deako, announces record growth for 2023. Since its inception, the company has sold more than 15 million products, with an increase of 55% in gross revenue year-over-year. As the company prepares for another strong year in 2024, Deako will be expanding its executive team with the hire of Chris Miller as Chief Financial Officer and David Cathey to the role of Chief Revenue Officer.

Deako has been revolutionizing smart lighting since its inception in 2015. Founded by current CEO Derek Richardson, Deako allows homeowners to swap out to any light switches in their homes in a matter of seconds for true customization. Deako also gives builders like D.R. Horton, The New Home Company, Toll Brothers and Stone Martin an advantage in sales, as it can keep home prices low while providing owners with the ability to customize their lighting solution with smart technology however best fits their needs. This is especially critical given 78% of home buyers would pay more for a home with existing smart devices, and smart lighting ranks second for the most desired smart home technology.

Deako's momentum makes now the perfect time for the expansion of its leadership team. CFO Chris Miller has a background in scaling smart technology companies, including Vivint, Nortek, 2GIG, and Control4, leading teams in operational finance, strategy, FP&A, M&A, and analytics. At Deako, Miller will be responsible for supporting the company's continued growth, working alongside Derek and the finance team to raise growth capital and expand into new market segments. As CRO, Cathey will collaborate closely with the team to optimize business performance and exceed company goals for growth. His background in overseeing P&Ls, M&A, sales, marketing, technology and operations within companies such as Intrado, Questline, and GreenMarbles, combined with his purpose-driven leadership style, positions him as a valuable addition to Deako's expanding executive team.

"I am thrilled to be joining Deako during a period of tremendous growth. Having been part of the smart home industry for most of my career, I am aware how Deako's innovative modular platform has the potential to become the standard and expectation for consumers in the market. At the same time, Deako is unique in its ability to make the smart home effortless for homeowners," said Chris Miller, Deako's CFO.

"I truly believe that Deako is revolutionizing the smart home sector, and am looking forward to further propelling the business forward as I step into the role of CRO. I've spent more than two decades working across marketing, sales, technology and product development, and am eager to bring those skills together in my new role at Deako. Derek has built an incredible company, and I'm excited to be part of this journey with him," commented Deako's CRO, David Cathey.

Miller is based in Utah and Cathey will be based in Florida, but will spend time at the company's Seattle headquarters. Deako's partnerships and products bring it to more than 38 states in the Northeast, Western, and Southern United States.

"I am very excited for the next phase of Deako's growth. We've been able to accomplish so much in the past eight years, and with Chris and David joining our team, I know that this is still just the beginning," commented Derek Richardson, founder and CEO of Deako. "Where someone lives and the comfort people have in their homes is of the utmost importance. At Deako, we're making sure that people can make their homes truly theirs, and that their homes can evolve with them - whether it's turning an office into a nursery, revamping the mood of a room with a dimmer, or making it smarter in other ways while making it effortless. Our builder partnerships, success to date, and the addition of Chris and David indicate that while we've surpassed major sales milestones, there is still so much more opportunity for us in 2024 and beyond. We're excited by what we have planned for the smart home industry next year."

For more information about Deako, visit www.deako.com.

About Deako
Deako is the creator of modular smart lighting control system for homeowners. With Deako backplates in 1 out of 6 new homes in America, its smart technology is comprised of modular switches that put the control right in the hands of the customers. The company empowers homeowners to enhance the ambiance, convenience, and security of each room of a new home without the exorbitant expense of third-party installation, programming and maintenance costs. Deako is trusted by top 100 builders, partnering with D.R. Horton, Meritage Homes, Toll Brothers, Stone Martin and more, to bring the benefits of smart lighting to American homeowners.

Deako was founded in 2015 by CEO, Derek Richardson, and is headquartered in Seattle. The company was named the #1 Smart Lighting Control System by TecHome Builder, Top 25 Innovative IOT Companies by Entrepreneur and Top 50 most promising Startups by Bloomberg. For more information about Deako, please visit www.deako.com.

SOURCE Deako