Life360, a San Francisco, Calif.-based provider of a location and communication app for families, raised $50m in Series C funding.
The round was led by security provider ADT, which invested $25m. Other backers in the company include Duchossois Capital Partners, DCM, Fontinalis Partners, Bessemer Venture Partners and Expansion Venture Capital.
Life360 and ADT now plan to develop a new mobile application that will provide direct access to ADT’s 24/7 monitoring centers that can connect users to police, fire and emergency medical responders. The app will be available in late 2014 and will be free, with upgraded security features from ADT available at a monthly subscription fee.
Founded in 2008 by Chris Hulls, chief executive officer, Life360 provides a location and communication app for families. Available for Android and the iPhone, it enables families to share their locations, know when someone needs help and communicate with in-app messaging.
FinSMEs
15/05/2014