Plum is a “smart” device that dims and controls the lights in your home.
With Plum, you can schedule your lights to turn on right before you arrive home from work, or at a certain time each evening, providing extra security.
In addition, you can see what lights are on throughout your home on the app, and create different light settings for activities like cooking, watching television or hosting a party.
You can even keep track of the amount of energy each light uses.
If your smartphone isn’t nearby, you can control Plum directly on the easily-installed light pad or via voice commands using smart home assistant devices like Amazon Alexa and Google Assistant.
Today, more and more home devices are becoming connected to the Internet, giving rise to what’s known as the smart home.
For example, the Nest smart thermostat enabled users to more accurately control their home's temperature. (In 2014, Nest was acquired by Google for $3.2 billion).
Meanwhile, Plum aims to become the top product in the $1 billion smart lighting industry.
Traditionally, smart lighting has only been found in million-dollar homes. That’s because the cost to have these lights professionally installed can reach upwards of $50,000.
But Plum is targeting the more than 27 million U.S. homes valued closer to $350,000, giving the company access to a potential 1 billion light switches.
Plum’s Wi-Fi connected light pads start at $99 each, and are priced at less than $2,000 for an order of 20.
And unlike some professional lighting systems, Plum fits into any existing light switch.
Plum started in 2012. That year, the company was selected from a field of 80 start-ups as the "People’s Choice Winner" at DEMO, an annual conference where companies like TiVo and E-Trade were introduced.
In 2013, Plum was selected into the Techstars start-up incubator program, which has helped companies like Uber and Twilio become multi-million-dollar businesses.
And in 2014, Plum was accepted into the Microsoft Ventures Accelerator, another program designed to put start-up companies on the fast track for success.
In less than two years, Plum has generated nearly $700,000 in revenue.
As for Plum’s potential, the Internet-connected home market is one of the fastest growing industries.
According to Goldman Sachs, an investment firm, the market is projected to grow at 800% a year for the next few years, reaching $78 billion by 2023. Lighting is projected to comprise 23% of that market.