Millions invested in IoT provider Smartfrog
Global venture capital firm e.ventures has invested millions of euros in Smartfrog, the provider of a complete solution for home surveillance including camera, app and video storage.
It is a clear signal that Smartfrog is moving forward at high speed with this investment from e.ventures; international early-stage investors behind large retailers including the Otto Group, the Metro Group and the REWE Group are involved.
Of the investment, e.ventures General Partner Andreas Haug says, “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.”
As described in a study by Goldman Sachs, the Internet of Things is “the next megatrend with an expected market size of 18 billion USD already by 2017.” But so far most IoT products have been too complex and expensive, according to a survey by Deloitte. This is where the Smartfrog concept comes in, with its home monitoring solution easy enough for anybody to use, and accessible pricing to boot: The international mass market is in its sights.
The shareholders and management of Smartfrog were among the founders and managers of internationally renowned IT and Internet companies such as Strato, ClickandBuy, and AVG, who repeatedly demonstrated to millions of global customers how technologies can be easy to use and affordable for everybody. Smartfrog’s international market entry strategy is “free to paid” and new for the IoT sector.
Smartfrog is the first provider in the sector that offers, in addition to their paid camera product, a free app that can turn almost every smartphone and webcam into a surveillance camera. This is how the company wants to win the market and build the brand. In the next step the customers can upgrade to the paid products and services. This strategy is particularly ideal for those in developing countries. In order to further internationalise Smartfrog, offices will soon be opened in the UK, USA, Dubai and South Africa, in addition to the existing offices in Germany, Switzerland, Ireland and China.
Further important distribution channels – as well as their own e-shop – are e-tailers and retailers. Leading IT distributors in Europe are very interested in stocking Smartfrog. One of the first distribution contracts has secured distribution across over 1,700 e-tailers and retailers in German speaking countries.
Smartfrog is also seeking sales cooperation with high-reach partners such as utilities, telecommunications companies and ASPs. Negotiations are already underway with energy suppliers and telcos.
Smartfrog 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.
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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