Dropcam Raises $12 Million In Funding

Sites include dropcam.com . Published on July 7th, 2012. Written by Anthony West.

Video monitoring start-up Dropcam is doing very well by all accounts. Fresh off the release of an Android app, the company is also announcing that it has raised $12 million in Series B funding.

The round was led by Menlo Ventures with participation from existing investors Accel Partners and Bay Partners. This additional $12 million brings the total pumped into the venture to $17.8 million.

Mark Siegel of Menlo Ventures thinks that their investment in Dropcam is a worthwhile one: “We appreciate Dropcam’s position in the industry and are confident in what this company can do for the connected home. Dropcam is in a unique position to lead the way in this space because of their unparalleled commitment to quality software layered on top of impressive hardware. This is a tough balance for young companies and Dropcam is doing a commendable job at this.”

Dropcam is banking on its second generation cameras which debut recently at CES 2012. With a plethora of new features and 720p video, the company is hoping that its products will take off in the marketplace. Users of Dropcam can now access their Dropcam remotely via an internet gateway. Those who want to create an archive of footage can record and store.

All these features make Dropcam a very solid investment for anyone looking to invest in video monitoring and so things bode well for the San Francisco based company.