Ring welcomes in new investors to the tune of $28M

[ibimage==39446==Large==none==self==ibimage_align-center]

Ring, the Santa Monica video doorbell company, announced a $28 million Series B on Wednesday, bringing their funding total to $38.2 million since the company’s inception in 2011. 

 

The round is Ring’s largest by far and was led by American Family Insurance, Shea Ventures, Richard Branson with participation from True Ventures and Upfront Ventures.

 

Originally dubbed Doorbot, Ring develops video-enabled doorbell systems that broadcast to a user’s cell phone. The device is marketed as a revolutionary home-security tool, however, the company also says the motion detector can make sure you never miss a delivery when you’re not home. The Ring system now sells for $199.

 

The company was named one of the “Top 50 Startups to Watch in 2015” and first gained notoriety when CEO Jamie Siminoff appeared on ABC’s Shark Tank in 2013. Kevin O’Leary offered Siminoff $700,000, but wanted 10% royalty. Siminoff (with the encouragement of Mark Cuban) walked away from the offer.