Home-Security Startup InGrid Raises $13.5M
Broadband home-security startup InGrid closed $13.5 million in third-round funding, bringing it to $30 million raised to date.
The round was led by Armstrong Group and Associated Partners. Existing investors CenterPoint Ventures, Novak Biddle Venture Partners, Pennsylvania Early Stage Partners and ZG Ventures also participated.
InGrid is one of several startups taking on incumbent home-security providers like ADT Security Services and Brink’s in the emerging “digital home-protection” market segment. Instead of relying on traditional phone lines, InGrid and its peers use broadband connections for security-system monitoring and alerting.
“This latest round of financing strongly positions InGrid for a successful launch of the most advanced home-protection products and services available, while laying the groundwork for true industry leadership,” InGrid CEO Louis Stilp said in a prepared statement.
InGrid, founded in 2004, is based in Berwyn, Pa. The company has been granted 15 U.S. patents.
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