SimpliSafe is a Boston, MA-based provider of home security solutions that now protect millions of people. Led by CEO Christian Cerda, the company sells home security products and recently launched a Wireless Outdoor Camera. It has created an owned-and-operated professional monitoring center in Richmond, Virginia. Last year SimpliSafe surpassed its projection of $400 million in annualized recurring revenue. The company raised over USD200M to invest in its workforce, technology and professional-monitoring capabilities and to refinance existing facilities. SimpliSafe said it will use the proceeds to hire across the business and to improve its monitoring and technology offerings. SimpliSafe offers a self-installable, under-$300 home security system that can be purchased without a contract and includes professional monitoring. The company was founded in 2006 and has installed over 100,000 systems since its founding. SimpliSafe positions itself in the DIY home-security segment, targeting renters and lower-income consumers underserved by traditional providers. It leverages IoT and smart-home technologies to deliver lower-cost, easy-to-install alternatives to professionally installed systems. The broader DIY home-security market is projected by NextMarket Insights to reach $1.5 billion by 2020, indicating a sizable growth opportunity for companies like SimpliSafe. The company received a $57 million investment from Sequoia, reflecting venture interest in its business model and traction.

Total raised

$257M

Funding rounds

2

Latest round

Equity

Latest activity

May 2022