Total amount raised
$57 Million
Latest funding date
5/1/2014
Location
SimpliSafe has successfully navigated 4 funding rounds, with notable investors including Blue Owl Capital Corporation and Eastern Bank. The company specializes in home security systems, offering products like AI-powered cameras and 24/7 live security agents.
Keep reading to explore the intricacies of SimpliSafe's fundraising journey and the investors backing this innovative platform.
What Is SimpliSafe?
SimpliSafe, based in Boston, Massachusetts, is a prominent player in the home security industry. The company designs, engineers, and sells a variety of security products, including cameras, smart locks, and wireless alarm systems. With a workforce of between 1001-5000 employees, SimpliSafe has made significant strides in the market.
Founded with the mission to provide effective and user-friendly security solutions, SimpliSafe has garnered attention for its innovative approach. The company offers 24/7 professional monitoring and AI-powered cameras, ensuring comprehensive home protection. Their commitment to customer satisfaction is reflected in numerous awards and positive testimonials.
How Much Funding Has SimpliSafe Raised?
- Debt Financing
- Amount Raised: USD 200,000,000
- Date: May 2022
- Lead Investors: Blue Owl Capital Corporation, Eastern Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth, invest in product and service innovation, and expand the workforce.
- Private Equity
- Amount Raised: USD 130,000,000
- Date: April 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance advanced technology and professional monitoring capabilities.
- Secondary Market
- Date: July 2017
- Investor Count: 2
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series Unknown
- Amount Raised: USD 57,000,000
- Date: May 2014
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
Total Amount Raised: USD 387,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Blue Owl Capital Corporation
- Details: Blue Owl Capital Corporation is a leading alternative asset manager. They specialize in providing capital solutions to middle-market companies.
- Investment Focus Areas: Direct lending, private equity, real estate.
- Notable Investments: Not publicly disclosed.
- Eastern Bank
- Details: Eastern Bank is a regional bank based in Boston, Massachusetts. It offers a range of banking services including personal, business, and commercial banking.
- Investment Focus Areas: Personal banking, business banking, commercial banking.
- Notable Investments: Not publicly disclosed.
- Capital One, N.A.
- Details: Capital One, N.A. is a major American bank holding company. They specialize in credit cards, auto loans, banking, and savings accounts.
- Investment Focus Areas: Credit cards, auto loans, banking services.
- Notable Investments: Extensive credit card offerings, auto loan services.
- HPS Investment Partners
- Details: HPS Investment Partners is a global investment firm. They provide capital solutions across various industries, focusing on private credit and public credit markets.
- Investment Focus Areas: Private credit, public credit, capital solutions.
- Notable Investments: Healthcare, technology, industrial sectors.
- Owl Rock (a division of Blue Owl)
- Details: Owl Rock is a division of Blue Owl Capital. They specialize in direct lending and providing capital solutions to middle-market companies.
- Investment Focus Areas: Direct lending, middle-market companies.
- Notable Investments: Not publicly disclosed.
What's Next for SimpliSafe?
SimpliSafe stands at the cusp of significant growth, driven by a recent $200 million funding round. This capital infusion will enable the company to expand its product offerings, such as the Wireless Outdoor Camera, and establish new professional monitoring centers. With a subscriber base expected to exceed two million in the next three years, the opportunities for growth are substantial.
Future fundraising appears promising, given the company's impressive track record and the increasing demand for home security solutions. However, SimpliSafe will need to navigate challenges such as maintaining high customer satisfaction and staying competitive in a rapidly evolving market. The company's focus on innovation and customer value positions it well for continued success.
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