NEW YORK, NY, Home security firm raised $10M in Series A led by Khosla Ventures.
FIRM STATEMENT: We're happy to share that we've closed a $10M Series A from Khosla Ventures, Bobby Yazdani (an early investor in Google and Dropbox), and a number of our initial seed investors, including Two Sigma Ventures. This complements our initial seed round of $1.2M from Two Sigma and Brooklyn Bridge Ventures and crowdfunding of $2M from Indiegogo.
Khosla's compelling history of investing in new markets and disruptive technologies - both in hardware (Jawbone, Square) and software (ZocDoc, Indiegogo and many others) - made them stand out from the beginning. We look forward to working closely with them and new Canary board member Ben Ling to make Canary a household name.
Before Canary, home security was complicated, expensive, and largely ineffective. We felt strongly that security should be a simpler experience - something you could purchase and easily install right out of the box. Once our Indiegogo campaign launched, it was clear that we'd struck a nerve.
While crowdfunding will finance the first product, this Series A allows us to grow Canary into the company that will define this category moving forward. More specifically, the financing allows us to more rapidly:
Hire the best talent - teammates who are looking to topple giants and help change the world.
Push innovation forward with faster development of hardware, software, and an intelligent learning layer that will help reduce false alarms dramatically.
Share our vision with more people.
It's our belief that by re-imagining the way people connect to their homes and protect the people and things that matter most, we can make communities safer and smarter. The financing we received will help us reach our goal of democratizing home security, and we've already started putting it to use. Our team has more than doubled in the past six months, and we have plenty of positions open for smart people who share our passion. Join us.
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