Well, I like the funding. Go get them Tony, they are in Santa Monica, CA

March 16th, 2016

There has been a lot of hype about the cybersecurity sector of late. Today another kind of security tech saw some action, however, as Ring [Private Company Ticker Symbol: OTOMEUP] raised a $61.2 million Series C funding to expand their outdoor connected security product offerings. The round was led by Kleiner Perkins Caufield & Byers along with an investment by British angel investor, Sir Richard Branson. Ring, which is looking to find a niche in the $6.89 billion connected security market, makes a connected doorbell. Owners can view people at their door via a smartphone app that connects to a high definition camera on the console. Along with the built-in motion detector, the doorbell can let users know when there is someone on their property, ensuring security straight from their smartphone. The Ring console can also be integrated with other smart products such as smart locks and thermostats. The global connected security market is expected to grow to $28.90 billion in 2020. According to PrivCo data, this round of funding brings the total amount raised by Ring to over $90 million.