Startups are transforming homes with products such as smart locks, doorbells, lighting, along with products to kit out homes for pets and babies, and much more. New, younger companies are venturing into the space, as our research shows: the proportion of annual deals that went to early-stage startups raising seed/Series A rounds saw a 22 percentage-point increase, from 52% 2011 to 74% in (the first half of) 2016.