Ring, maker of "smart" doorbells, snares $109 million
Ring, the maker of a popular doorbell equipped with a security camera, has raised a whopping $109 million in new venture capital funding less than one year after its last round. DFJ Growth, Goldman Sachs Investment Partners and Qualcomm Ventures led the round, with additional participation from Richard Branson, True Ventures, American Family Insurance and Shea Ventures.
Market maturity: According to Ring founder Jamie Siminoff, we're past the initial hype phase of "smart" devices for the home. "Now you're starting to see companies doing $100 million-plus" in revenue, he tells Axios of the market's maturing.