While the company has so far focused on automation systems for the home, Pedersen is looking at how he can bring the automation technology to small businesses — most automation systems for commercial buildings have taken off in large buildings, not with small businesses.
"Why not have it be available for somebody who owns seven Subway franchises, so he can know what's going on inside and when?" said Pedersen.
Including in this move to the commercial sector, Vivint will be releasing a new panel suitable for a business owner's needs.
Vivint is also looking at how to integrate its energy management systems with utilities. Pedersen thinks its system could help utilities better manage power loads and smooth out demand constraints, especially during the summer months when air conditioners are on at full blast.
"No one's really done this yet, but we really think we have the ability to do it," said Pedersen about the potential partnership with utilities. "We've got the customer concentration."
A lot of Vivint's recent lofty plans for its future has been helped along with private equity firm Blackstone Group's $2 billion acquisition of the company last fall.
So far, the private equity partnership has worked well for this highly competitive company. As the company primes for big growth in the next three to five years, Blackstone has given them the freedom and support it needs, said Pedersen.
"I feel a tremendous amount of pressure to bring the best returns they've ever seen to an investment of this size," said Pedersen.
But that's OK because, "When I'm not stressed, I'm super stressed," Pedersen said.
Photo of Todd Pedersen provided by Vivint.