Canary raises $10 million in new investments
Last summer’s Indiegogo campaign for Canary’s sensor-packed home security device was wildly successful, raising nearly $2 million in just a month. This week the company announced another $10 million in Series A funding.
The investors include Khosla Ventures, which also helped to fund Indiegogo itself, and a number of the same investors who joined Canary’s $1.2 million seed round. Canary says the money will help them hire top-tier talent and ramp up innovation of new hardware and software to continue revolutionizing the home security market.
“While crowdfunding will finance the first product, this Series A allows us to grow Canary into the company that will define this category moving forward,” the team wrote Tuesday in a blog post.
In another blog post today, Canary gave their crowdfunders a detailed behind-the-scenes look at how development is progressing. From visiting suppliers in China and testing components, to refining the manufacturing process, to building out new software features, it’s clear the team is working hard to meet their pledge of shipping the first production units to backers by May.
And if you missed out on the campaign, Canary is now taking general pre-orders -- but you’ll have to wait until July.