Canary is a New York-based smart home security startup best known for its flagship camera and consumer security solution. The company has positioned itself as a fast-growing category leader in the U.S. smart home security market. Canary recently received a strategic investment from European IoT company Smartfrog that will support product and geographic expansion. The combined group plans to leverage AI and machine-learning initiatives alongside IoT and SaaS capabilities to scale globally. The investment increased Canary’s total funding to $66 million and accompanies leadership alignment between the two companies. Canary will continue to operate as an independent brand while pursuing accelerated global growth to better compete with Nest, Ring and Arlo. Canary makes a small in‑home monitoring device packed with sensors and cameras that tracks temperature, air quality and security and sends alerts and recorded clips to users’ smartphones. The product launched on Indiegogo, surpassing its $100,000 goal rapidly, and the company has since moved into retail. As of the end of March Canary was live on Amazon, Best Buy, Verizon and Home Depot online, with in‑store availability coming. Retail has been a primary distribution channel recently, with many outlets selling out and needing to re‑order. The company has grown to roughly 80 employees and is focused on adding platform features rather than releasing an immediate second‑generation device. Canary plans to use new funding to expand its manufacturing line and increase marketing to meet demand. Canary sells a compact, roughly $200 in-home security device that combines an HD camera with sensors for air quality, smoke, and motion, and connects to a simple mobile app for remote monitoring. The device can learn patterns to distinguish pets or regular visitors from potential intruders and will alert owners when it detects suspicious activity. Users can link up to four Canary units to cover more of a home, though the company says one unit is sufficient in most cases. Canary positions itself between no security and expensive, complex systems by offering an affordable, easy-to-use option. The company plans to use its new funding to accelerate production, hire more staff, and develop a more full-featured product. Management says the team has more than doubled in the past six months as it scales up.

Total raised

$65M

Funding rounds

3

Latest round

Equity

Latest activity

Oct 2018