HomeValet Completes Strategic Acquisition of Envolve Engineering

TYSONS CORNER, Va.–(BUSINESS WIRE)–HomeValet, emerging leader in contactless home delivery, today announced the acquisition of Envolve Engineering, LLC, Indiana based engineering firm with over 150 years of combined appliance industry experience.

The acquisition brings a team of skilled engineers in-house who will support HomeValet in launching its revolutionary, 24/7, contactless home delivery offering to the market this fall. In addition, Envolve Engineering’s in-depth knowledge of manufacturing and supply-chain will allow HomeValet to rapidly scale to meet the anticipated demand for its next-generation consumer-first home delivery platform, secure, temperature-controlled Smart Box appliance and subscription service.

“Envolve Engineering’s team has had a hand in developing home appliance products for some of the largest refrigeration brands in the industry,” said Jack Simms, HomeValet Co-founder and COO. “We’re thrilled to have these seasoned innovators join the HomeValet team as we look to introduce our first IoT smart box product to the market and reimagine the current e-commerce delivery supply chain.”

Founded in 2013 by former Whirlpool engineers of more than two decades, Mike Stagg, Greg Hortin, Patrick Boarman and Garett Strandemo, Envolve Engineering specializes in refrigeration engineering, appliance design, testing and safety. The firm has worked over the past seven years with original equipment manufacturers and suppliers in the appliance industry including Sub-Zero and have been granted over 50 patents related to ice, water, beverage delivery systems and their related cooling technologies.

“Second to having a great idea, is having the right talent to develop that idea into a winning product. HomeValet has assembled such an engineering team with years of experience specializing in major home appliances in advanced structures, thermodynamics and IoT systems,” said Steve Paddock, former SVP of Global Product Development at Whirlpool and HomeValet Advisor. “With Envolve Engineering’s talent, HomeValet will have the capabilities of a Fortune 500 organization with the size and speed expected of a high performing start-up.”

HomeValet has worked with the team at Envolve Engineering for over two years developing its next-generation home delivery platform technology. Working together with talented software engineers assembled by HomeValet, the combined team of 25 software and hardware engineers will introduce to the public the first SaaS platform, consumer app, and smart appliance designed to facilitate unattended, refrigerated, receipt of groceries and durable goods at American homes.

As part of HomeValet, Envolve Engineering will continue to operate out of its office in Evansville, Indiana where their on-site lab will remain fully functional for testing, evaluation and general product development. Envolve Engineering will additionally maintain its existing engineering staff with expertise in mechanical, electrical, software, and CAD design and continue to ensure engineering services for existing clients as a division of HomeValet. Full terms of the transaction were not disclosed.

About HomeValet

HomeValet is a leader in contactless home delivery on a mission to solve the last yard of delivery with solutions made for the modern consumer. Reimagining the current e-commerce delivery supply chain, HomeValet’s patented SaaS IoT platform connects retailers and couriers with a secure, temperature-controlled Smart Box outside of consumers’ homes. The first of its kind Smart Box, software, and app facilitates 24/7 contactless and unattended delivery spanning everyday parcels, perishable groceries and more. To learn more, visit homevalet.co or follow HomeValet on Twitter and Facebook.

Contacts

Demonstrate PR for HomeValet

Nicole Robichaud

homevalet@demonstratepr.com
415.400.4214

Author: dmnnewswire