On Monday, the first company to raise $100 million in a round led by Next Big Futures, an angel investor group, unveiled its plans for a new, mobile-based app called Tango, which will serve as the startup’s first product.
“We’re going to take this platform to the next level,” co-founder and CEO Eric M. Johnson told investors during the company’s initial public offering.
Tango’s app will serve up “a personalized service for the Tango smartphone” with a “smart home and home automation component,” according to a press release.
Tapping into the next wave of mobile-first innovation, Tango will also include “smart” thermostats, the company says, and the ability to control appliances remotely, and will “give you control over your thermostat from anywhere.”
“We think that a lot of companies that are going to be in the space right now are going through a time where they need to be thinking about what kind of platforms they want to use,” Johnson said.
Tangoes new app will be “a platform for a lot more apps” and “a whole new generation of devices,” according the press release, which is expected to go live in the coming weeks.
The company is working with two startups, one of which is a startup called Wistia.
“Wistia is a cloud platform,” Johnson told VentureBeat.
“They’re building a platform that you can get started with right now and they’re taking the platform to a level that is really exciting and exciting for a whole new set of companies.”
The new startup, Johnson said, will also have a “very high bar” to succeed.
“If we can get people to the point where they actually want to start a company, they’ll say, ‘Wow, I want to work with a startup,’ and that’s a really exciting moment,” he said.
Johnson, who recently co-founded a new venture called Next Big Tech, previously co-authored a book with fellow Next Big-Tech angel investor and startup investor Tom Cargill, The Tango Revolution.
Johnson and Cargil are also co-founders of the tech accelerator, T. Rowe Price, which provides support for early-stage companies in the tech space.
In the past year, Johnson has become one of the most prominent early-game investors in the industry.
He’s also the founder of the startup accelerator and venture capital firm, StartEngine, which invests in start-ups.
Johnson’s investments in companies have helped to drive a boom in the number of companies looking to develop smart home products and appliances.
Last month, Johnson announced that he’s investing $200 million in three startups working on a smart home platform: HomeGuru, the makers of the smart thermostatic devices from Philips; Nest, the maker of smart thermos; and HomeKit, the hub of smart home apps from Apple.
“I believe that there’s a lot going on in the home space right around the corner that’s really going to change the way we think about and think about technology in general,” Johnson added.
Johnson has been vocal about his belief in the future of technology.
During the summer, he announced a plan to invest in a new smart home startup called Nest Labs, which would bring together Nest, a company that makes the Nest Learning Thermostat, and HomeGroupe, which offers the Nest Cam app, the same product he previously invested in.
The next year, he’s been actively pursuing investments in startups developing home automation solutions, such as Z-Wave, SmartThings, and ZigBee.
He recently invested in another smart home start-up called Nest Home, which also sells a home automation device.
Johnson also invested in a company called SmartCup that builds smart thermo-faucet units that can be controlled from a smartphone, and he recently invested $10 million in SmartCups SmartWalls.
Johnson recently founded the company Z-Sense, which develops smart home devices.
Johnson is also an investor in an investment fund called Spark Capital.
Johnson previously founded the incubator Next Big Ventures, which helps tech start- ups raise capital.
Johnson was also the co-chair of Next Big.
In addition to the venture capital investment, Johnson recently launched a $1 million Series B round for Next Big, which he said he’s hoping to invest around $2 billion in a $25 billion fund.