Ringing in a New Era of Home Security
By Randy Glein, Partner
At DFJ, we cherish opportunities to partner with visionary entrepreneurs who are making the world better through technological innovation. We also welcome opportunities to invest in new technologies that transform markets where legacy incumbents are struggling to adapt and embrace change. And sometimes we get the privilege to do both these things at once, which is what we are doing through our investment in Ring and our partnership with Jamie Siminoff, the extraordinary founder, leader, and Chief Inventor of Ring.
Ring is on a mission to make our homes and neighborhoods safer. The company has developed a suite of connected products that incorporate advanced video processing technologies to create “rings” of security around our lives — at our front doors, around our homes, and across our communities. From the moment we met Jamie, we knew we wanted to team up and be part of his journey with Ring.
Today, we have the privilege of announcing our investment in Ring. We led a $109 million financing for the company that includes new investors Goldman Sachs Investment Partners and Qualcomm Ventures, with participation from existing investors Sir Richard Branson, American Family Insurance, Shea Ventures, and True Ventures, among others.
Over the past three years, Ring has experienced explosive growth and has emerged as the new generation leader in the home security market. Its innovative products, like the Ring Video Doorbell and Stick-up Cam, have been embraced by consumers eager to leverage technological innovation to bring improved safety and security to their homes. The Ring mobile app and cloud-based video archiving service allow consumers to answer their door remotely, monitor the perimeter of their home from anywhere, and share videos of suspicious visitors with neighbors and local authorities to create a virtual neighborhood watch service.
The constant drumbeat of innovation at the company gives us confidence that Ring will continue to grow and expand its market share as consumers realize the benefits of safer homes and neighborhoods equipped with Ring’s connected products and services.
We are grateful for the chance to team up with Jamie and his team at Ring. Their vision for making our lives safer is quickly becoming a reality — a mission that “rings” so true to us and we are proud to support.
We welcome Ring to the DFJ family with open arms!
Randy Glein is a partner at DFJ