PayPal co-Founder Thiel, Solamere Invest $100 Million in Vivint Smart Home

Vivint Smart Home received $100 million in equity backing from Solamere Capital and tech investor/PayPal co-founder Peter Thiel, it said Wednesday. Vivint has a customer base of more than a million and annual revenue topping $650 million, it said. The company’s Vivint Sky platform includes integrated smart door locks, a thermostat, cameras, doorbell camera, cloud storage and various sensors, and it integrates with the Nest Learning Thermostat and Amazon Echo, it said. Vivint CEO Todd Pedersen called the investment a “validation” of Vivint’s business and the smart home industry.