March 18, 2016 Comments Off on Ring, the smart doorbell, raises $61.2 million
The smart doorbell startup Ring has raised $61.2 million in a series C round led by Kleiner Perkins Caufield & Byers, with participation from Sir Richard Branson, who led a $28 million funding round into Ring in 2015. What makes Ring so attractive to investors is it’s gaining traction for many users with sales reaching 1330% in 2015. Unlike ordinary doorbells, Ring is wifi-connected and equipped with an HD camera that can be linked to your iOS or Android phone. The device streams live video from your front door, allowing two-way audio communication with the person on the other end. Since it is wifi-enabled, homeowners can access it from anywhere in the world. Ring is planning to introduce new products to the market and increase its involvement with local communities to help reduce burglaries and break-ins.
You can read about the funding here.
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