SimpliSafe now backed by PE firm Hellman & Friedman DIY security provider to focus on increasing market penetration
By SSN Staff
Updated Tue July 3, 2018
BOSTON—SimpliSafe, a provider of DIY installed home security systems, on June 29 announced an investment from private equity firm Hellman & Friedman to accelerate SimpliSafe's growth and expansion of the home security market. Terms of the transaction were not announced.
“Home security is at an inflection point. Despite the market's growth, today still only 20% of homes are protected. With innovative technology, unparalleled service, and radically fair prices, SimpliSafe is rapidly making its vision of 'every home secure' a reality,” Chad Laurans, founder and CEO of SimpliSafe, said in the announcement.
The transaction is expected to close in the third quarter of 2018, the announcement noted, subject to the waiting period under the HSR Act and other customary closing conditions.
Qatalyst Partners and Raymond James Financial served as advisors to SimpliSafe on the transaction and Goodwin Procter LLP acted as legal counsel to SimpliSafe. Simpson Thacher & Bartlett LLP acted as legal counsel to Hellman & Friedman. Kirkland & Ellis LLP served as legal advisor to Sequoia Capital.
Update: SimpliSafe told SSN by email that it is expected to launch its credit facility via Capital One on Thursday, July 12 in Boston.
SSN continues to report on this story.
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