Home security company will increase investment in product and service innovation while expanding its workforce
BOSTON, May 6, 2022 /PRNewswire/ —SimpliSafe®, creator of award-winning home security solutions, today announced it has raised in excess of $200 million of incremental funding to support growth, while also refinancing its existing facilities. This funding was provided by the affiliates of Capital One, N.A., HPS Investment Partners, Owl Rock [a division of Blue Owl] and Eastern Bank. With this round of fundraising, SimpliSafe will continue to invest in the advanced technology and professional monitoring capabilities that can improve the safety and security of its customers.
In the 15 years since its founding, SimpliSafe has expanded its competencies, products and services and now protects more than four million people. It has grown its subscriber base to more than 1.5 million and expects that figure to confidently exceed two million over the next three years. This news follows recent innovations to the company’s product suite, including the launch of a Wireless Outdoor Camera and the creation of an owned-and-operated professional monitoring center in Richmond, VA.
SimpliSafe plans to hire aggressively across the business. The company has invested heavily in its workplace experience and culture, having been recognized two consecutive years as a Boston Business Journal “Best Places to Work” and recently announcing its new state-of-the-art Boston headquarters, which is being custom built at 100 State Street.
“SimpliSafe’s growth trajectory has been nothing short of impressive,” said Christian Cerda, Chief Executive Officer at SimpliSafe. “We transformed the home security industry and continue to penetrate the market. In order to continue delivering on our founding mission to make every home secure, we must stay focused on delivering exceptional value to our customers. I’m confident we will continue to find success in this next chapter, while staying true to the award-winning legacy we’ve established. I’m thankful to our financial partners for recognizing the enormous potential and opportunity in SimpliSafe’s future.”
This news follows the announcement of a round of fundraising last April, further illustrating the strength of SimpliSafe’s business model. Last year, the company surpassed its projection of $400 million in annualized recurring revenue (ARR).
SimpliSafe, which was backed by Hellman & Friedman in2018, provides thoughtfully-designed technology with industry-leading professional monitoring, all at fair and honest prices with no long-term commitments. In addition to its advanced technology, SimpliSafe has delivered strong economic results in large part due to its industry-leading customer satisfaction levels, which have translated into high customer loyalty for its subscription offering.
To learn more about SimpliSafe or career opportunities at SimpliSafe, please visitSimpliSafe.com.
SimpliSafe fundamentally changed the alarm industry, pioneering a new way to make home the safest place on earth for everyone. Founded in 2006, SimpliSafe now protects millions of people and is committed to its founding goal: to make every home secure. SimpliSafe has been coined the number one home security pick by several highly-esteemed publications and was recently awarded “Best Overall Home Security System of 2022” by U.S. News & World Report. SimpliCam, SimpliSafe, and the SimpliSafe logo are the registered trademarks of SimpliSafe, Inc. in the US and other countries.