|SEASON 8 EPISODE 8|
|Pitch||Smart lockbox for the real estate and hospitality industries|
|Asked For||$500,000 for 10%|
|Deal||$200,000 for 10% + $300,000 loan|
|Shark||Kevin O’Leary and Barbara Corcoran|
|Status||OUT OF BUSINESS|
What is Toor?
The Toor Smart Lockbox is a convenient external security feature that allows you to safely keep your home keys secure while granting access to authorized users via a smartphone app request and invite to unlock the box.
So if you’re on vacation or away for business but still have a regular home cleaning or pool service, you can still grant them authorized access to your property while monitoring updates on your phone anywhere in the world.
It’s also ideal for homeowners who rent out their homes to vacation guests on Airbnb.
Who Owns Toor?
Junior Desinor is the founder and CEO of Toor. Originally from Haiti, his parents moved to Texas when he was still young in search of a better life.
Toor finally came to the market in 2018, along with an e-commerce partnership and real estate client.
Junior has also since invested in and co-founded with his wife an oil business called City Natural.
Junior’s idea for the business was largely drawn from his real estate days, where he pondered the convenience of being able to let potential buyers view your property without the presence of a real estate agent to unlock the door.
Simply through an app, you can schedule appointments between a buyer and seller and safely grant access to the keys and your home. In 2016, Junior raised over $100,000 through crowdsourcing on Kickstarter for his smart lockbox idea. With 800 lockbox pre-orders requested and a pledge to make the boxes in the USA.
With the design finalized, it was now that he decided to start looking for further investors to assist him in production and to take the product to market.
What Happened After Shark Tank Update
Did Get a Deal on Shark Tank?
The Toor lockbox made its first appearance in 2016 on Kickstarter where its raised over $100,000 from 108 backers, for its proprietary lockbox technology. Shortly following a successful Kickstarter campaign, Toor was featured on the Shark Tank where Junior Designor accepted an offer from Barbara Corcoran and Kevin O’Leary at a $2 million valuation with the additional of a $300,000 loan.
The deal did not go through with the Sharks but the company went on to receive additional funding from other investors. To date, Toor has received a total of $1.8 million in funding.
Is Still in Business?
After two years of anticipation, in early 2018 the lockbox was finally released to Kickstarter backers and made available for purchase by a handful of retailers for $199.
Since its launch, Toor has received mixed reviews. Customers love the design and technology behind the lockbox but many have had issues with the app which has been described as glitchy and difficult to use.
What was once a promising solution to online scheduling and access authorization for the real estate industry is fast becoming obsolete as other companies rise to the top of the smart lockbox game.
The company is still listed as active but the lockbox remains unavailable on Amazon and on the company’s website while social media pages have not been updated since 2018.
Its unknown whether Junior will continue to work on Toor but with new business opportunities for the talented salesman, it seems Toor will soon be taken behind the barn.