Home surveillance camera maker Dropcam has been a prime example of how a fledging company can do hardware right.
And investors agree: The company has just secured $12 million in second round of funding led by Menlo Ventures and supported by Accel Partners and Bay Partners.
Dropcam’s Wi-Fi-enabled video cameras make it easy for users to remotely monitor their kids, pets, and homes from a variety of devices.
Hardware-based startups are a bit of an anomaly in Silicon Valley, so it’s always big news when a company like Dropcam attracts investor attention.
With the latest round, Dropcam’s total funding rises to $17.8M. The company says it plans to use the new cash to expand its software team at home in San Francisco and expand operations elsewhere.
It’s the combination of Dropcam’s hardware and software that’s at the core of its success, Menlo Ventures managing director Mark Siegel said in a statement. “This is a tough balance for young companies, and Dropcam is doing a commendable job at this,” he said.
Alongside the funding announcement, Dropcam also released its new Android app, which replaces the previous Adobe Air-based version that lacked full Android compatibility. Dropcam said the goal with the new app is to give Android users the same quality of experience as users of the iOS version.
Dropcam’s latest product is its HD Wi-Fi Video Monitoring Camera, which was announced in January and, according to Dropcam, sold out in three weeks. Running at $150, the device offers 720p HD video, improved low-light performance, and two-way audio.