Canary raises $10M in Series A funding for its home security product

canary raises 10m seed funding home security product

The home security industry is ripe for disruption right now. The rise of smartphones over the past decade have driven down the cost of compact sensor and camera technologies, and now there’s a slew of different products in the works that can keep your home just as safe, but for a fraction of the cost.

Canary is one of these up-and-coming products, and it’s poised to ship to consumers in the very near future. Just a few months after the conclusion of its hugely successful IndieGoGo campaign, the company has announced that it has raised over $10 million in series A funding to help bring its product to market.

Developed in New York,  the Canary smart home security system is a combination of an indoor surveillance camera, alarm system, and weather monitor all wrapped inside a soda-can shaped machine. To install it, just connect the device to your home’s Wi-Fi network and sync it to your smartphone. From there, Canary can monitor your home and alert you if something unusual is spotted, such as movements in a room that’s supposed to be empty, or a sudden loud noise. The temperature sensors can also detect changes in humidity and air quality. These alerts are sent directly to your phone like a regular notification, and allow users see the live view of their home via an HD camera before deciding the next course of action.

This new round of funding was led by Khosla Ventures, Bobby Yazdani (an early investor in Google and Dropbox), and a number of the firm’s initial seed investors, including Two Sigma Ventures. The money will help Canary build out its $199 product and drive adoption.

The company plans to ship to its original IndieGoGo backers later this spring, and everyone else in the summer.

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