A new wireless alarm system uses the cutting-edge capabilities of modern smartphones to enhance home security.

The iSmartAlarm is a Silicon Valley initiative which seeks to incorporate the sophistication of the latest hi-tech consumer devices into security for the home and other forms of real property.

The system, which is both wireless and portable, communicates with the user’s smartphone and enables him or her to access a full suite of security-related functions, including monitoring, systems control and statistical data.

According to its manufacturer, iSmart Alarm Inc. provides fuller and more sophisticated control of property security systems and is far more economical than rival products. The iSmartAlarm requires no contracts or monthly fees and its initial cost is cheaper than six months of monitoring services provided by traditional home security firms.

iSmart Alarm itself was founded in Silicon Valley in 2012 with the ambition of developing the world’s best smartphone-enabled home security and home control system.

The company’s was founded following a theft involving one of the hi-tech world’s most prominent and influential figures. In mid-2012, thieves stole over $60,000 worth of Apple products and personal belongings from the home of the late Steve Jobs.

The thieves were able to access the house because all of its alarms had been switched off in order to enable construction workers to enter and leave the premises without issues.

The new iSmartAlarm would have averted this situation by enabling the system controller to arm and disarm individual alarms within the house from a remote location via a smart phone and to monitor the overall security situation.

Capital for the innovative product was obtained via the internet era’s most cutting-edge means of funds procurement. The company ran a crowd funding campaign through Indiegogo from January through March of this year, raising a total of over $226,000 from 1,600 contributors and customers, equivalent to 450 per cent of their final goal.