As first reported by PitchBook, Ring’s recently announced $109 million financing values the company at $445 million*, more than double the $204 million valuation it secured with a $61.2 million Series C last March. The $109 million comprises $80 million in Series D equity funding and $20 million in debt, according to PitchBook research. Participants in the Series D include DFJ Growth, Goldman Sachs Investment Partners, Qualcomm Ventures, Sir Richard Branson, Shea Ventures and True Ventures, among others; Silicon Valley Bank provided the debt financing.
While Ring offers an array of home security products, the LA area-based company is best known for its battery-operated, WiFi-connected, HD video doorbell that enables homeowners to see and speak with visitors when they’re not home via live streaming to a mobile app. The doorbell was, in fact, the first product the company offered after being founded in 2012. Since then, Ring has gone on to expand its product suite, which now includes security cameras that can be posted in different places around a home.
Here's a look at Ring’s equity funding history, along with valuations associated with each round:
December 2013: $1M round | $7.6M valuation
June 2014: $6.8M | $15.3M
March 2015: $3M | $21.9M
July 2015: $28M | $63.6M
March 2016: $61.2M | $204M
January 2017: $89M | $445M
Intersted in learning more about the internet of things space? Check out our IoT Breakdown, which digs into VC investment trends, exit activity, top valuation step-ups and more.
*Ring's CEO disputes this valuation. The figure is an estimate calculated via publicly available information and proprietary formulas.