SAN FRANCISCO--(BUSINESS WIRE)--Makers of the most versatile Wi-Fi video camera and intelligent streaming service to capture life’s moments, Dropcam, Inc. today announced it raised $5.8 million in Series A funding. This round was led by Accel Partners with participation from existing angel investors including Mitch Kapor (a pioneer of the personal computing industry and founder of Lotus Development Corporation), Aydin Senkut (founder and managing director of Felicis Ventures), Ben Narasin (President at Triple Point Capital), David Cowan (partner at Bessemer Venture Partners), Salil Deshpande (General Partner at Bay Partners) and Bradley Horowitz (VP Product, Google+ and an innovator in early video search). Sameer Gandhi of Accel Partners joins the Dropcam board of directors as part of this investment round.
This funding round will be used to build on Dropcam’s current cloud-based video platform and expand the software engineering team in its San Francisco offices.
Dropcam is dedicated to helping users keep a watchful eye on what they care about and ensuring they never miss a moment. After setting up a Dropcam camera, users access their real-time, 24/7 video stream on their computer, smartphone or tablet, stay up to date with instant email and push alerts for motion and audio detection, and with Dropcam DVR, can record up to 30 days of moment-by-moment video. Personal video feeds can be safely and privately shared with friends and family. Some examples of how people are using their Dropcam can be found here: https://www.dropcam.com/demo.
“Their focus on a simple, seamless user experience from the device to the cloud is what makes Dropcam stand out from other products and services,” said Sameer Gandhi, the Accel Partners VC responsible for investments in Dropbox, Quidsi (parent of diapers.com and soap.com; acquired by Amazon.com), Bonobos, Spotify and StumbleUpon. “We are excited to partner with such exceptional entrepreneurs as Greg Duffy and Aamir Virani, and we look forward to helping the company deliver a phenomenal service to its users.”
“I originally invested in Dropcam because I foresaw what the company and their products could do for consumers and the industry,” said Mitch Kapor, angel investor and founder of Kapor Capital. “I’ve been deeply impressed with what they’ve done in such little time, and I’m confident that they’ll continue to exceed my expectations.”
Dropcam, Inc. is an agent of change at the intersection of video, data, and the cloud. Its versatile Wi-Fi video monitoring cameras and intelligent software services capture life’s moments, making it easy for users to check in on the things they care about from anywhere, anytime, on any device. Founded in 2009, San Francisco-based Dropcam is funded by Accel Partners and top angel investors. Dropcam’s mobile apps are available in the iTunes Store and on the Android Marketplace. To learn more, please visit www.dropcam.com, watch our demo videos on YouTube, like us on Facebook and follow us on Twitter @dropcam. Dropcam, Inc. is located at 160 Spear Street, Suite 1700, San Francisco, CA 94105.
About Accel Partners
Accel Partners was established in 1983 with offices in Palo Alto and London, as well as in China via the IDG-Accel partnership. Accel also has a partnership that started in 2000 with Kohlberg, Kravis, & Roberts (KKR) that created the Accel-KKR fund for technology management buyouts. The firm is dedicated to partnering with outstanding management teams to build world-class Internet, software and networking companies. With over $4 billion under management, Accel Partners has a long legacy of helping entrepreneurs build highly successful companies. Accel has a history of backing category-defining companies, which include Facebook, Glam Media, AdMob, BitTorrent, Brightcove, Macromedia, Real Networks, MetroPCS, and Riverbed. For more information, visit the Accel Partners web site at http://www.accel.com.