HiberTec Homes Shark Tank Update – Shark Tank Season 17
A house that disappears underground in minutes, can this bold wildfire solution, HiberTec, secure a deal on Shark Tank Season 17?
Wildfires are no longer rare disasters. They’re becoming a yearly threat, destroying entire neighborhoods in minutes. For homeowners, the real problem isn’t fighting the fire; it’s surviving it. That’s the problem Mikey Pearson, former mayor of Malibu, and co-founder Holden Forrest set out to solve with HiberTec Homes, a concept that sounds almost unbelievable.
Instead of fighting fire, their solution is simple: avoid it entirely. Appearing on Shark Tank Season 17 Episode 17, the founders introduced a futuristic approach to home safety that immediately sparked curiosity, skepticism, and intense debate in the Tank.
About HiberTec Homes
| Category | Details |
|---|---|
| Business Name | HiberTec Homes |
| Founders | Mikey Pearson & Holden Forrest |
| Industry | PropTech / Construction |
| Product | Wildfire-proof underground home system |
| Funding (Pre-Shark Tank) | $500,000 (self-funded) |
| Investment Asked | $1,000,000 for 8% equity |
| Deal Status | Deal secured with Barbara Corcoran |
| Deal Outcome | $1,000,000 for 20% equity |
| Valuation | $5 Million |
Mikey Pearson’s experience as mayor of Malibu during the devastating Woolsey Fire gave him firsthand exposure to the destruction caused by wildfires. Thousands of homes were lost, and even with firefighting efforts, the damage was unavoidable. This reality shaped the vision behind HiberTec Homes.
Co-founder Holden Forrest first conceived the idea in 2019 and spent five years developing the concept. Fully committed, he invested his own money in the business and built a team of engineers specializing in thermal systems and structural design.
Product Overview
HiberTec Homes is designed to protect houses from wildfires by lowering the entire structure underground when a threat is detected.
At the push of a button, the entire home descends underground into a sealed vault, disappearing and shielding itself from flames, heat, and debris.
Before the home descends, utility connections are automatically shut off. A fire-retardant system activates, and a protective shell seals the structure completely.
Once the danger passes, the home resurfaces back to ground level within 15 minutes and is planned to be controlled through a smartphone app.
Currently, construction costs are estimated at around $1,000 per square foot, putting it in line with luxury, fire-resistant homes in California, with a long-term goal of reducing costs to approximately $400 per square foot.
However, the high cost and unproven technology make scaling a significant challenge.
HiberTec Homes Shark Tank Pitch
With the concept explained, the founders stepped into the Tank to present their vision. They asked for an investment of $1,000,000 for an 8% equity.
The pitch started strong but quickly turned into one of the most debated concepts of the episode. When Holden revealed the concept of a home that “disappears” underground, Barbara Corcoran immediately called the idea “crazy,” but in Shark Tank terms, that’s often a good sign.
The idea impressed the Sharks visually and conceptually, with reactions ranging from amazement to concern. Kevin O’Leary joked about being buried alive, highlighting the biggest psychological barrier to the concept, while the founders clarified that the system protects property, not people.
As the discussion deepened, the Sharks began probing the business side. The founders revealed that they had not yet built a full prototype. This raised concerns, particularly when they revealed they would need $3.8 million to construct their first working home.
While they had gained media attention due to recent wildfires, they chose not to take pre-orders.
The founders explained their plan to license the technology rather than become builders, positioning themselves as technology providers. While some Sharks appreciated this approach, others remained cautious due to the early-stage nature of the business and the high costs involved.
Most Sharks backed out due to the early-stage nature, high capital requirements, and lack of a working prototype.
What Makes HiberTec Homes Unique?
The following features of HiberTec Homes make it stand out in the construction and safety space:
- Lowers entire homes underground for protection
- Combines hydraulics, fire-retardant systems, and automated sealing
- Protect against wildfires and potentially other disasters like tornadoes
- Focuses on licensing technology rather than traditional construction
- Addresses a growing global need for disaster-resilient housing
Did HiberTec Homes Get a Deal on Shark Tank?
Barbara Corcoran made the first offer, proposing $1 million for 20% equity with the condition that her home would be the first prototype built. She emphasized the value she would bring through real estate expertise, media credibility, and a high-visibility demonstration project.
The founders acknowledged the strength of the offer but pushed back on valuation, countering with 12% equity. Barbara held firm at 20%, arguing that her involvement would increase the company’s chances of success.
Daymond John supported Barbara’s offer, calling it the perfect partnership, while Kevin O’Leary and Lori Greiner chose not to invest due to the early-stage nature and associated risks.
Rashaun Williams also stepped out, suggesting the founders focus on closing the deal with Barbara.
After weighing the opportunity, Holden Forrest made the final decision. Despite initial hesitation, he accepted an on-air deal with Barbara Corcoran for $1 million in exchange for 20% equity, citing her expertise and the value of a real-world showcase.
HiberTec Homes Shark Tank Update
As a recent Shark Tank Season 17 Episode 17 feature, HiberTec Homes is still in its early stages post-show. However, the company had already gained media attention due to wildfire coverage even before appearing on the show.
With a clear plan to build its first prototype, the next phase will be critical in proving the concept. The next milestone is to build a fully functional prototype. It will determine whether this ambitious concept becomes a real-world solution or remains a high-risk idea.
Where Can You Buy It?
HiberTec Homes is not yet available for purchase, as the company is still in the development and prototype stage, as seen on their official website.
The founders plan to bring the technology to market through licensing partnerships with builders once the first working model is completed. You can find out more on Instagram and Facebook.
Quick Summary
- HiberTec Homes creates wildfire-proof houses that are lowered underground to avoid wildfire destruction entirely.
- Founders entered seeking $1M for 8% equity and ultimately accepted an on-air deal with Barbara Corcoran.
- The business is still in its early stages, with success heavily dependent on building and validating its first working prototype.
Check out other Shark Tank Season 17 Episodes.
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