Venture Capital News: Ring Raises $61.2M in Series C
SANTA MONICA, CA, Leader in outdoor home security has raised $61.2 million in Series C funding.
Ring, the leader in outdoor home security, today announced its newest smart security device, RingTM Video Doorbell Pro, a premium, compact Wi-Fi video doorbell. The company now has the largest line of smart, outdoor security products available today. Featuring highly configurable motion detection zones, a sleek design and a small form factor, Ring Video Doorbell Pro is currently available for preorder at www.ring.com for $249.
In addition, Ring has raised $61.2 million in Series C funding from Kleiner Perkins Caufield & Byers (KPCB) with add-on from Sir Richard Branson. These new funds enable Ring to expand its line of smart video doorbells, further its international presence and continue to reduce crime in neighborhoods.
Jamie Siminoff, Chief Inventor and CEO of Ring, said: 'At Ring, it's our mission to reduce crime by creating a 'ring' of security around our customers' front doors, homes and neighborhoods. I am pleased KPCB has joined Ring's group of leading investors alongside Sir Richard Branson as we continue to make neighborhoods around the world safer. With these new funds, we will expand that 'ring' of security by adding to our high-quality, diverse line of smart security products.'
Mary Meeker, KPCB general partner, said: 'Ring re-imagined the doorbell so consumers could respond - using a smartphone - to someone at their front door from anyplace, anytime. Jamie and his team continue to improve the bell while rolling out new products that allow consumers to easily and cost-effectively monitor - and engage with - all areas around their homes. We believe Ring's new approach to home security is mainstream and powerful.'
Sir Richard Branson, Founder of Virgin Group, added 'Congratulations to Jamie for his leadership and commitment to building a strong company while also building such useful crime prevention products. I'm delighted to support Ring with continued investment.'
More than 50 percent of burglaries in the United States take place during the day when no one is home. Now, homeowners can give potential intruders the impression they're home even when they are not. With both the RingTM Video Doorbell and Ring Video Doorbell Pro, users are alerted when the device's motion sensors detect movement on their property or someone rings the bell. They can then see and speak to whoever is at their door via their mobile device, providing the illusion that they're home. Plus, with Ring Stick Up Cam, a wire-free outdoor security camera with two-way audio and one-way video, users can monitor and protect their entire property. Ring devices have prevented countless burglaries and package thefts and continue to assist police departments across the country in identifying suspects of home break-ins.
Ring Video Doorbell Pro technical specifications and images are available here.
Ring's mission is to reduce crime in neighborhoods and empower consumers by creating a 'ring' of security around homes and communities. Named one of USA Today's Top 10 Tech Innovations of 2015, the RingTM Video Doorbell offers a unique security solution that enables homeowners to keep an eye on and protect their homes from anywhere. While Ring Video Doorbell and the new Ring Video Doorbell Pro create a ring of security around users' front doors, the company's wire-free, outdoor security camera, Stick Up Cam, extends that ring to secure the entire home. With these products, Ring continues to prevent burglaries and keep homes around the world safe. For more information, visit www.ring.com. With Ring, you're always home.
About Kleiner Perkins Caufield & Byers
Kleiner Perkins Caufield & Byers (KPCB) partners with the brightest entrepreneurs to turn disruptive ideas into world-changing businesses. The firm has helped build pioneering companies like Amazon, Electronic Arts, Genentech, Google, Nest, Netscape, and Twitter. KPCB offers entrepreneurs years of operating experience, puts them at the center of a vast and influential network, and accelerates their success through expertise and support in recruiting, product design and delivery, business development, strategic partnerships, and brand building. KPCB invests in all stages from seed and incubation to growth companies and operates from offices in Menlo Park, San Francisco, Shanghai, and Beijing.
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