Bengaluru: Santa Monica-based smart doorbell maker Ring secures $28 million in Series B round of funding led by Sir Richard Branson, Shea Ventures and American Family Insurance. The funding round was also joined by True Ventures, Upfront Ventures and angels including Sky Dayton. The company is expecting to deploy the latest fund to expand its operations. The company had previously raised $4.5 million in Series A round last December.
Incorporated in 2011 by Chief Innovator – James Siminoff, Ring is a Wi-Fi based application that creates video doorbell tool to get alarms for home checking and security on Android gadgets in order to reduce crime in communities and empower consumers by creating a ring security around homes and neighbourhoods. Considered as one of TIME Magazine’s Top 10 Gadgets of 2014, the Ring Video Doorbell permit homeowners to see and talk with guests regardless of where they are. This mixes comfort, checking and remote doorbell capable security is accessible at Best Buy, Brookstone, Home Depot, HSN, Lowe’s, Target and Amazon and many more.
The company had recently launched its Ring Chime, a small Wi¬Fi speaker that chimes in the home when the Ring Video Doorbell is pressed. It also launched motion detection and video cloud recording security features.