Canary, the US-based developer of a smart home monitoring system, has secured $30m in a series B round featuring supply chain services provider Flextronics, TechCrunch reported yesterday.
Venture capital firm Walden Riverwood Ventures led the round, which also included Cota Capital, Khosla Ventures, Two Sigma Ventures and Western Technology Investment.
Canary launched its product, a monitoring system that detects motion and alerts the owner in the event of unusual activity, in July 2013 through a campaign on crowdfunding site Indiegogo that raised $2m.
The company subsequently received $1.2m in seed capital from Two Sigma and Brooklyn Bridge Ventures the following month, according to TechCrunch, and secured $10m in an April 2014 series A round featuring Khosla Ventures, Two Sigma and angel investor Bobby Yazdani.
Canary CEO Adam Sager told TechCrunch the capital will be used to expand the company’s manufacturing capabilities in order to meet demand, to upgrade marketing and to secure additional retail partnerships over the next few months in order to sell the system in stores.