Home security company ADT has invested $25m in US-based location services provider Life360 as part of a $50m series C financing round.
Life360 previously secured $10m in a July 2013 series B round led by venture capital firm DCM and including existing investors BMW i Ventures, a subsidiary of car maker BMW, as well as Expansion Venture Capital, Bessemer Venture Partners, Fontinalis Partners, Seraph Group and 500 Startups.
The company subsequently raised $7m in December from residential security conglomerate Duchossois Group, which pushed its total funding to $27m.
ADT, which will take a minority stake in Life360, will also seek to create a mobile app in tandem with the company that will integrate Life360’s technology with Chaperone, an ADT service that offers ‘on-the-go’ personal security. It is expected to be ready by the end of 2014.
“This partnership with Life360 fits within our innovation strategy to reinvent the idea of ‘security’ for our increasingly mobile lifestyles,” said Arthur Orduña, chief innovation officer for ADT.
“It’s a perfect pairing as ADT and Life360 are both leaders in their categories that share a very similar vision and mission – to provide peace of mind to families.”