Life360, a US-based family location app which is backed by BMW I-Ventures, the US-based venture capital unit of Germany-based automotive company BMW Group, has raised $10m in a series B funding round led by venture capital firm DCM, with participation from existing investors.
The series B financing will help fund strategic growth initiatives including product enhancements, distribution and localization of the app for international markets and product integration with partners in the home security and automotive sectors.
BMW I-Ventures originally invested in Life360 in March 2013.
Life360 previously raised $3.5m in its series A round from venture capital firms Fontinalis Partners, which was founded by the chairman of car maker Ford to be its “eyes and ears” into external innovation, Bessemer Venture Partners, 500 Startups, Kapor Capital, Venture51, Bullpen Capital, Social Leverage and EchoVC Partners,
Life360 was founded in 2008.