The founders of a Nashville based security tech company are going down in Shark Tank history.
HavenLock was featured on Shark Tank Sunday night and their sales pitch left the sharks laughing after they struggled to show how easy it is to kick in a door.
While they didn’t walk away with a deal, they did walk away with some new customers.
“The response has been, almost overwhelming,” CEO Alex Bertelli told News 2.
Bertelli thought of the Haven lock idea while serving as an army special ops helicopter pilot.
“I spent a lot of time in Afghanistan and Iraq and came up with the idea after I saw how the bad guys were kind of barricading themselves in their homes,” he said.
After returning from active duty Bertelli, along with co-founder Clay Banks, had break-ins in their neighborhoods.
“This is a problem that happens every 18 seconds in the United States,” said Banks.
Their solution, the wedge lock for Haven.
“The best offense is a well thought out defense,” stated Bertelli.
The floor-based locking mechanism goes into the front of your threshold at the base of your door. It can be activated with a foot pedal.
Haven also has a smart version, where you can use a key fob or phone app to lock and unlock the device remotely.
They say the locks are 10 times stronger than a traditional deadbolt.
Haven’s customer list is building, as they have landed a partnership with Terminix.
“They are our biggest customer right now; they are selling the product all across the country. They do 10-15,000 home visits every single day and they are in market right now selling the product and we couldn’t be where we are at today without them as a customer,” said Bertelli.
When Shark Tank was filmed in September, the creators of Haven entered the tank asking for $500,000 for a 6% stake in their company but have since landed a better deal.
“We just closed a Series A investment here with some local Nashville investors at a much better cost at capitol than what we could have gotten on the show,” said Banks.
Additionally, they say their cost is lower now and they have already doubled their revenue since last year in the first quarter.
Following Sunday’s show, the entrepreneurs say Haven received calls from about 50 schools wanting to buy the Haven Lockdown.
“We are going through a process to re-engineer and re-manufacture so that it is custom designed for the school application. The product that we currently have for schools is taking a residential product and kind of retrofitting it to make it work and to show a proof of concept, but with this new investment that we’ve got we are focused on kind of re-engineering specifically to solve the active shooter situation or be part of the solution,” said Banks adding that they are already in schools in Tennessee, Arkansas, and Georgia.
HavenLock donates 1% of its revenue to the Special Operations Warrior Foundation.