In 2002, Signalink Technologies of Kelowna, B.C. entered the NVBC competition with an audible/visible fire alarm signaling device designed to augment existing fire alarm systems in residential and commercial buildings. The company took third prize.
Today, after years of research and development, Signalink’s technology affordably transforms the existing wiring in residential or commercial buildings into an instant data-communications network. The system’s expanded suite of products can be used for building services such as fire and security protection, energy management and even medical devices.
Over the past eight years, Signalink has grown from just four employees to 24, with plans to hire a further staff this year. The firm’s management team now includes Canadian entrepreneur Ed Alfke, founder of Rent-a-Wreck; Vancouver electronics engineer John Francis, whose end-of-train technology eliminated the caboose on freight trains, and former NASA and USAF design engineer Arthur Voss.
To date, the company has raised $8 million in four rounds of financing and expects to complete a further round of financing worth $2 million early this year.
Signalink has won numerous awards, including: Innovative Organization of the Year” Silicon Valley/Telus 2005; “Most Promising Emerging Technology of the Year” Silicon Vineyard/BDC 2006; “Best Pre-Revenue Company to Invest In” Angel Forum Vancouver 2006; “Most Valued Company, San Francisco Angel Expo 2007; Top 10 Early Stage companies in Canada, 2009, National Angel Capital Organization.
In January 2010, Signalink launched a second generation of its Fire-Link™ product—a fire-alarm system—with new features that include a strobe light for the hearing impaired.
Ideal for retrofits, Signalink’s technology is installed in 300 buildings in North America. Signalink is in the midst of developing a worldwide market and expects to become profitable in 2010. Its market value has grown four-fold since entering the NVBC competition.
Highlights over the past eight years:
- Employee growth: 4 to 24
- Investment: $8 million; a further $2 million pending
- Market Value: 4-fold growth