IoT start-up Smartfrog raises millions in first funding round for home security solution
e.ventures invests in one of the most promising Internet of things (IoT) businesses in Europe.
The comprehensive solution from Smartfrog including app (Android and iOS), camera and video storage, lets users see inside their homes and business around the clock, via their smartphones, tablets or laptops. Early-stage investors e.ventures have invested millions in the company.
Smartfrog scores big points with its quick and easy 5-minute camera setup, and affordable price. It’s as simple as downloading the app, registering and connecting the Smartfrog Cam to power and Wi-Fi. Immediately the user can see on their smartphone or computer whether everything is fine at home. They can always be with the baby in the nursery, check the grandparents’ medication and keep an eye on the pets. Once something moves or a sound is recorded, the user will receive an alert via email or a push notification on their mobile device.
The package starts at £4.95 per month, with no minimum contract period, and includes ongoing monthly video storage from the last 24 hours.
When a user has many rooms in the apartment, or also wants to keep watch over their office, they can connect up to ten cameras to their app account. Alongside the HD-quality Smartfrog Cam, the free app also lets users turn their old smartphones and webcams into cameras. “The free app is a fantastic starting point for users looking for a ‘freemium’ solution, for example in developing countries,” says CEO Andreas Rudyk of the business model. “Even demanding users can get a first impression of the intuitive interface of the app and can try to use additional cameras to complement the Smartfrog Cam. User-friendliness in combination with our free and paid products makes Smartfrog a truly mass-market product.”
Other technical details include alarm function, notification system, two-way audio, night vision, 8x zoom and time-lapse video function, whereby users can view the whole day in 5 minutes and share it with friends. All transferred data is SSL-encrypted, similar to in online banking, and is stored in ISO-certified high- security data centres.
The shareholders and management of Smartfrog were among the founders of internationally renowned IT and Internet companies such as Strato, ClickandBuy and AVG. The president of the board is Norbert Stangl, founder of Strato and ClickandBuy.
“With its extremely user-friendly ‘Plug & Play’ platform solution, Smartfrog is positioning itself as one of the most promising Internet of Things businesses in Europe, and with its internationally-oriented, scalable business model it fits perfectly into our portfolio,” says Andreas Haug, General Partner at e.ventures.
Smartfrog (http://www.smartfrog.com/) is a tech company focused on the “Internet of Things”, which is about making everyday objects more intelligent and connected to the internet, e.g. via an app. The aim is to make the everyday lives of people more comfortable and more secure by making modern technologies user friendly and affordable. For this, Smartfrog has developed a universal IoT-Platform designed to build dedicated solutions across product areas. Having started with security and monitoring as a primary area, it offers an easy-to-use and affordable complete home security solution, so that users can always keep an eye on their home and business at any time and from anywhere. The package starts at €5.95 (£4.95) per month, with no minimum contract period and monthly cancellation. It includes the Smartfrog app, allowing users to manage up to ten cameras, a Smartfrog Cam and video storage.
Among the shareholders and management of Smartfrog are the founders of internationally renowned IT and internet companies. Charles Fraenkl is CEO. International VC-funds such as e.ventures, Target Global and renowned family offices as well as Jean-Pierre Wyss, co-founder of u-blox AG, a leading Swiss high tech company, are involved as investors.
Founded in 1998 and built on a strong, shared culture of entrepreneurship, e.ventures is a leading early stage venture capital firm with global scale. The firm invests out of dedicated funds in six geographies and combines a global investment strategy and philosophy with local presence and insights. Focused at the intersection of consumer internet, media and mobile, e.ventures partners with visionary company founders to disrupt global markets and build category creating companies.
Notable investments include AppFolio, Sonos, AngiesList, Groupon, FarFetch, The RealReal, NGINX, Deposit Solutions, App Annie, Auctionata, Munchery, and others.
For more information, visit the e.ventures website: https://www.eventures.vc/
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