Home services provider Frontdoor acquire Portland, Ore.-based startup Streem. Streem uses enhanced augmented reality, computer vision, and machine learning to help home services professionals more quickly and accurately diagnose breakdowns and complete repairs, according to a news release.
“I am extremely excited about Frontdoor’s acquisition of Streem. Not only will it accelerate our work to transform the service experience for homeowners and reduce costs, it will create unique opportunities for new revenue streams across a variety of new channels,” said Rex Tibbens, president and CEO of Frontdoor. “This technology is a perfect fit for our core home service plan business and for our future On Demand customers. Over time, we will use Streem’s in-home augmented reality across our platform to deliver a superior experience to our more than 2 million customers and our network of over 16,000 contractor firms.”
Streem’s mobile platform uses breakthrough user-friendly technology to help expedite the repair process for homeowners. It is a welcome development in today’s fast-paced world when unexpected breakdowns can wreak havoc on schedules and create unnecessary frustration and stress.
“Combining Streem’s AR-enhanced platform with Frontdoor’s marketplace, will accelerate the transformation of the service experience for consumers and businesses alike,” said Streem co-founder and CEO Ryan Fink. “We’ve long said our platform is defined by three key pillars: remote video collaboration, simple augmented reality tools, and, most importantly, contextual data. This allows service experts to capture information as well as - if not better than - if they were on site. Our shared visions for simplifying life and delivering innovative technology to help solve problems are extremely aligned.”Read More