Canary, a NY-based developer of a smart home security device, raised $10m in Series A funding.
Backers in this round included Khosla Ventures, Bobby Yazdani (an early investor in Google and Dropbox) and Two Sigma Ventures. It followed an initial seed round of $1.2m from Two Sigma and Brooklyn Bridge Ventures and a crowdfunding of $2M from Indiegogo. In conjunction with the round, Ben Ling, an investment partner at Khosla Ventures, will join Canary’s board.
The company intends to use the funds for product innovation (with the development of hardware, software, and an intelligent learning layer that will help reduce false alarms) and team expansion (read here).
Led by Adam Sager, CEO, and Chris Rill, CTO, and Jon Troutman, Design Director, Canary is developing a home security product that features HD video camera and safety sensors to track motion, temperature and air quality, vibration, sound, and activity and alert users when it senses anything out of the ordinary.
It is controlled entirely from smartphone.