Despite recent research showing that 66 percent of the 2.5 million burglaries in 2021 were home invasions, only 17 percent of U.S. citizens have security systems installed in their homes.
Boston-based SimpliSafe has been working since 2006 to improve that statistic. The company has more than 1.5 million users and expects to obtain more than 2 million subscribers within the next three years.
The tech-backed security system provider announced on Friday that it raised a $200 million funding round to further scale its product offerings.
The company’s fresh funding comes from Capital One, N.A., HPS Investment Partners, Owl Rock and Eastern Bank. Outside of expanding its home security products, SimpliSafe is “aggressively” hiring. Nearly 100 roles are open for hire, a bulk of which are local to Boston.
“SimpliSafe’s growth trajectory has been nothing short of impressive,” SimpliSafe CEO Christian Cerda said in a statement. “We transformed the home security industry and continue to penetrate the market. I’m confident we will continue to find success in this next chapter, while staying true to the award-winning legacy we’ve established. I’m thankful to our financial partners for recognizing the enormous potential and opportunity in SimpliSafe’s future.”
Last year, SimpliSafe announced its decision to relocate its corporate HQ to the 100 Sumner Street tower in the heart of Boston’s Financial District. SimpliSafe also has roots in Richmond, Virginia and Manchester, United Kingdom.
