Life360, one of the leading social network for families has recently acquired Chronos Mobile Technologies. The financial terms of the deal were not disclosed.
Founded in 2012, the startup Chronos develop tools to collect data from the smartphone users and follows latest trends to study the users day-to-day patterns and behaviors. It built technologies that makes use of all the available sensors on a smartphone to generate intelligent context that runs in the background. It can collect data on almost all activities like the sleeping hours, work timing, commuting or exercise.
“The Chronos technology allows us to give our users an even deeper level of contextual awareness around their family’s daily activities. By showing them where they go most often and how much time is spent on specific activities, we can empower our families with key insights around family behaviour.” said Alex Haro, co-founder of Life-360.
The two companies Life360 and Chronos belong to the StartX network where they connected with each other though Life360 was quite about the other for past some time. Further to the acquisition, the Chronos technology will be combined with Life360 to become an important part of it location and context efforts. The two companies together will offer families using Life360 to get a better insight on their day-to-day activities.
“We have been focused on building the tools to make your smartphone as smart as it should be,” said Dylan Keil, co-founded and CEO of Chronos. “We believe that the context we provide coupled with Life360’s network of millions of families will have a powerful impact on how people stay connected with those who matter most.”
“These kind of deals between our founder perfectly reflect the strength and value of being part of the StarX community,” said Cameron Teitelman, founded and CEO of StarX. Haro said, “They have spent a lot of time thinking about a lot of the same things that we are focused on: the future of location sharing, how can contextual awareness improve your connection the people you care most about.” The founders will join full-time to help run Life360’s location and context team.
The deal which is said to be the combination of cash and stock, has allowed Chronos to continue functioning separately till the time Chronos technology is integrated into Life360 which is being used by more than 50 million families.