Ring video doorbell picks up $109 million in additional funding

Business / Tech
Video Doorbell

With this next round of funding, it will be interesting to see where the company takes their product line for the future.

The Ring video doorbell started its journey as the Doorbot and didn’t do so well at first lift-off. After re-branding Doorbot into Ring and getting some initial investments, the new video doorbell company was born. Now the Ring video doorbell has a new model on the shelves along with a handful of new smart home products, including the Ring stick-up cam. Not only are there new offerings from Ring but the company just secured another round of funding bringing in $109 million dollars. Among the investors showing interest in Ring are, Richard Branson, Qualcomm, and Goldman Sachs. This must mean the company is doing something right.

We reviewed the first generation Ring doorbell and we were very impressed with it. One of the complaints we had was wishing the unit was a bit slimmer than it is and it seems the 2nd generation Ring is indeed slimmer. With this next round of funding, it will be interesting to see where the company takes their product line for the future. They currently have the new Ring doorbell, the Ring Floodlight, and the Ring Stickup Cam. We have the Stickup Cam in house and will be using it at some point soon so we can review it for you.

Ring says that its products are now on sale in 100 countries, and can be bought in 15,000 retail locations. The company also partnered with the L.A. Police Department last year to install Ring video doorbells in 10 percent of homes in the Wilshire Park neighborhood.

“Ring is one of the fastest growing consumer hardware companies, which in itself is an impressive feat, but we see a much larger opportunity to deliver a full suite of home security products and services,” said Christopher Dawe, co-head of the venture capital and growth equity team at Goldman Sachs Investment Partners. “This is a true market expansion story. Ring is building a next generation home security platform at an accessible price point.”

  Source: Venturebeat
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