Wednesday, December 10, 2014

Ring Gets $7M For Smart Doorbells

Santa Monica-based Ring, the smart doorbell startup led by Jamie Siminoff, has raised $4.5M in equity and another $2.5M in debt financing, the company disclosed Wednesday. The company--formerly known as Doorbot--said the Series A financing comes from True Ventures, and also included First Round Cpaital, Queensbridge Venture Partners, Upfront Ventures, and angels. True Ventures' Adam D'Augelli will join the company's board with the funding, which the company disclosed gives it a $15.5M postmoney valuation. Siminoff had initially raised funding for its Doorbot project through a crowdfunding campaign back in 2012; Siminoff also pitched the idea on "Shark Tank", but turned down investors from that show in favor of more traditional venture funding. More information »

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