Owl Cameras Raises $10M
CSAA-backed Owl Cameras , the developer of a dashboard-mounted camera that captures footage both inside and outside the vehicle, has announced $10m in new funding – an expansion to their previously announced Series A round. The round was led by Canvas Ventures, bringing the company’s total funding to date to $28m.
In addition, the Palo Alto-based company announced the launch of an Android app, as previously it was only available for iPhone users.
“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.” – Founder and CEO of Owl Cameras, Andy Hodge.
“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.” – General Partner at Canvas Ventures, Rebecca Lynn.
Bottom Line: Nexar comes to mind.