SOURCE: Canary

Canary

June 01, 2015 10:12 ET

Canary Closes $30 Million Series B Round to Bring Vision of Consumer Security to the World

NEW YORK, NY--(Marketwired - Jun 1, 2015) - Canary, the company redefining the home security industry with an all-in-one security product, today announced the completion of $30MM in Series B funding to further their mission of empowering people everywhere to connect with and protect their homes, families, and communities. The round was led by Walden Riverwood Ventures (WRV), alongside significant investment from Cota Capital, Khosla Ventures, Flextronics, Two Sigma Ventures and Western Technology Investment. 

The latest round comes on the heels of one of the largest US retail launches of a new tech startup over the past year. Canary has introduced an entirely new approach to home security and will use these funds to bring Canary to apartments and homes everywhere -- both in the US and internationally.

"Since we began mass shipping in January, Canary has protected people in home invasions, apartment burglaries, cases of elder abuse, and even arson attempts, as well as created a more constant day-to-day connection between parents, children, and family members," said Canary CEO and Co-founder Adam Sager. "In many cases these are people who, because they live in apartments or simply because they don't want the cost and complication of traditional security systems, now have access to security for the first time. Canary is addressing a universal human need and to us that is what it's all about."

Canary had the most successful Indiegogo campaign of all time when they launched in the fall of 2013 and has since received multiple new product accolades including the prestigious iF and Red Dot Awards for excellence in design, an Edison Award, a CES Innovation Award, and more.

"Canary's vision for security is wholly unique and inspiring," said WRV founding partner Michael Marks, who will join Canary's board. "Canary has invented an entirely new category that is at once simpler than traditional security systems and more complete and intelligent than anything in the IP camera market. Canary is paving the way for a future where people everywhere are always connected to their homes, families, and communities and we're excited to help them grow and fulfill this enormous potential."

WRV has previously invested in successful high growth technology companies including Ambarella and GoPro. Khosla Ventures has backed companies including Jawbone, Square, and ZocDoc. Renowned angel investor Bobby Yazdani of Cota Capital has invested in over 100 early-stage startups including Google, Dropbox, Uber, and Salesforce.

About Canary
Canary is a New York City-based product company building the future of security. Canary combines innovative hardware, elegant software, and meaningful services to solve universal needs. Canary's first product is a complete security system packed into a single device -- a modern approach to security that lets you protect the people and places you care about most. For more information, visit www.canary.is.

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