Ring, the home security company that provides smart doorbells integrated with video cameras, has been acquired by Amazon. The deal price is rumored to be around $1.1B, marking one of the largest LA tech acquisitions in history. “We’ll be able to achieve even more by partnering with an inventive, customer-centric company like Amazon. We look forward to being a part of the Amazon team as we work toward our vision for safer neighborhoods,” said Ring in a statement.
Founded by James Siminoff in 2012, Ring had raised $209.2M in reported funding over six funding rounds with its last round coming in at a $760M valuation in 2017. Backers of Ring include Kleiner Perkins Caufield & Byers, First Round Capital, Goldman Sachs, CRV, True Ventures, Felicis Ventures, Qualcomm Ventures, Upfront Ventures, VTF Capital, QueensBridge Venture Partners, Cherubic Ventures, DFJ Growth, Shea Ventures, Virgin Group, Amazon Alexa Fund, Grishin Robotics, Sidekick Fund, American Family Insurance, Konstantin Othmer, Stephen Russell, and Shea Tate-Di Donna.
“Ring’s home security products and services have delighted customers since Day 1,” Amazon remarked in a statement. “We’re excited to work with this talented team and help them in their mission to keep homes safe and secure.”