California based Owl Cameras; the video security solution provider company has secured $10 million in Series A1 funding round led by Canvas Ventures. The latest funding amount takes the total to $28 million.Canvas Ventures' General Partner Rebecca Lynn as part of the deal will be joining the Owl Board of Directors.
Owl Cameras was started by Andrew Hodge and Nathan Ackerman in late 2016. The two-way dash cam developed by the company keeps an eye on car. The Owl camera is designed to monitor your car for break-ins, collisions, and police stops. It can also capture the funny moments during the road journey.
The cameras are priced for $349 which comes with 1 year of LTE Instant Video service. The 1st year service also includes unlimited Video Alerts and 60 minutes of remote making and viewing of video per month. Once the first year ends, users need to renew the service for $99 (or $10 per month). The security camera if detects a car accident, it will instantly save a 10 second before and after the accident clips on the mobile of the users. The app of Owl Cameras is available for iOS as well as Android users.
Lynn who is set to join the board of directors of the firm commenting on their decision of backing Owl Cameras said, “We decided to invest in Owl for two reasons: the market opportunity and the team. People need and want video security around their cars, and Owl's traction in the last six months shows customers love their Owl Car Cams. We've seen a lot of pent-up demand for car security, and Owl is tapping into that demand with a product that's easy to install and use. This is a testament to the team's decades of experience building mega-hits like the iPod, iPhone, and Dropcam, and gives them a huge leg up in creating a device and service people feel excited to use every day.”
Andy Hodge, the CEO of Owl Cameras says that ever since the launch, they have received great results and believes that even bigger things are to follow. “We knew from the beginning that cars needed video security badly. The results we’ve seen from our community of drivers in the months since launch - from catching thieves after break-ins to helping innocent victims avoid blame in crashes - have far exceeded our expectations. “With results this good in just the early days, we are clearly onto something huge. Now, with additional funding and increased production, we’re ready to turn this growing trend into something you see on every road in America," said Hodge.
Image Courtesy : Owl Cameras