Richard Branson, owner of Virgin Group, has recently become the lead investor in a $28 million funding round for Ring, a Santa Monica-based smart doorbell. So, there is no doubt that when the Virgin founder and chairman invests in a startup, Wall Street and Silicon Valley pay attention.
“What excites me about Ring is its efficient, convenient approach to crime prevention and home monitoring and also its entrepreneurial leadership team. I’m speaking as both an investor and a very happy customer,” said Branson.
The brand formerly known as DoorBot launched in 2013 as a bell with a Wi-Fi enabled camera for live video of who is ringing. Since rebranded and improved, being a part of the Internet of Things, Ring’s video doorbell alerts users’ phones when it is activated so they can virtually respond and keep an eye on what is happening at home.
According to Alexa, the analytical service, the website ring.com is rather popular, reaching the global rank of 66,496 that almost doubled comparing to the previous 3 months.
At the moment Ring products sell in 93 countries worldwide and in major retailers including Best Buy, Home Depot, Brookstone, Target and Amazon. The company is ready to expand and take on Google’s Nest.
“With a mission to reduce crime in communities and investors who share our vision, we’re ready to look beyond just the doorbell,” Ring noted on Facebook.
On the whole, the Internet of Things is becoming extremely popular nowadays among representatives of high tech, IT industry and among investors. They consider the IoT as a cost-effective and efficient way to make the global economy develop fast. One can’t go anywhere these days without encountering Internet-connected devices, part of the Internet of Things.
According to a recent research, conducted by International Data Corp, the world market for the Internet of Things will reach $1.7 trillion by 2020, representing a compound annual growth rate of 16.9%. The upturn is attributed to the increasing production of Internet-connected household devices.
“Devices, connectivity, and IT services will make up the majority of the IoT market in 2020,” the company stated. “Together, they are estimated to account for over two-thirds of the worldwide IoT market in 2020, with devices (modules/sensors) alone representing 31.8% of the total.”