Laser distance meters have been available to contractors for years. The major difference Senic adds, over Ryobi, Bosch & Fluke, is bluetooth & cloud syncing.
I have always wondered how these devices actually calculate distances. I have experimented with Arduino & Parallax, and I've seen how the resolution of an ultrasonic distance sensor is directly affected by the processor speed -- the processor is merely counting the fractions of a second between sending the ping pulse, and receiving its echo. But a 1 MHz processor can only just count milliseconds. A 16 MHz processor can count only slightly faster. At the room-temperature speed of sound, this gives you a resolution of about 1/29th of an inch, or 1/74th of a centimeter.
In theory, the same should be possible with light -- send a light pulse then count the fractions of a second for it to return. Thinking back to Grace Hopper's Nanosecond [1], a 1mhz processor would have a resolution of hundreds of feet. So these must be using a very small, simple, multi-GHz processor to get a resolution of about 2/15 of an inch.
Unless these devices do their measurement in a completely different way...
[1] https://www.youtube.com/watch?v=JEpsKnWZrJ8