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article imageNew deal with Hellman & Friedman values SimpliSafe at $1 billion

By Lisa Cumming     Jul 1, 2018 in Business
Private equity firm Hellman & Friedman has taken a controlling interest in SimpliSafe, the company behind the popular smart home security system SimpliSafe.
Sources close to SimpliSafe disclosed to TechCrunch that the deal valued SimpliSafe at about $1 billion.
Boston-based SimpliSafe was founded in 2006 and before the June 29 announcement had raised around $57 million over two funding rounds — one in 2014, the other in 2017.
According to the Boston Globe, from 2006 to 2008 SimpliSafe was a one-person operation that was based out of founders Eleanor and Chad Laurans' apartment. They came up with the idea to build a simple to use and easy to set up home security system to solve problems around home security for apartment renters who moved every few years.
Recently, SimpliSafe integrated with Apple Watch to give users an easy way to control their home security system.
More about simplisafe, Home security, hellman & friedman, Security, Startup
 
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