SimpliSafe is not a Chinese company. It is an American home security company based in Boston, Massachusetts. SimpliSafe was founded in 2006 by Chad and Eleanor Laurans, who were then Harvard Business School students. They wanted to create a security system that was affordable, easy to install, and designed for renters. SimpliSafe has grown to become one of the leading providers of wireless security systems in the US, with over 800 employees and 300,000 customers.
SimpliSafe’s History and Growth
SimpliSafe launched in 2009 with initial funding from angel investors. In 2010, the company had a revenue of $1.4 million. In 2013, the revenue increased to $38.5 million. In 2014, SimpliSafe received a $57 million investment from Sequoia Capital, a prominent venture capital firm. The same year, the company was ranked as the second-fastest growing company in the Boston area by Inc. 5000.
SimpliSafe continued to expand its product line and customer base in the following years. In 2015, the company had 250 employees and 300,000 customers. In 2016, an independent security firm identified a potential vulnerability in SimpliSafe’s RF system, which could allow hackers to disable the system. SimpliSafe acknowledged the issue and stated that it was not unique to its system and that it was working on a solution.
In 2017, SimpliSafe launched its SimpliCam security camera, which offered live video streaming and motion detection. In 2018, the company introduced its third-generation system, which featured a redesigned keypad, a smaller base station, and over-the-air updates. The system was designed in collaboration with IDEO, a renowned design firm. In the same year, SimpliSafe faced criticism from gun control activists for offering a discount to National Rifle Association members. The company later ended the partnership.
In 2019, SimpliSafe released its Smart Lock, which allowed users to lock and unlock their doors remotely. In 2020, the company had 800 employees and announced the opening of a second call center in Richmond, Virginia, adding 500 more jobs. SimpliSafe also partnered with Progressive Insurance to offer discounts to customers who bundled their home security and insurance policies.
SimpliSafe’s Products and Services
SimpliSafe offers wireless security systems that consist of various components, such as sensors, cameras, sirens, keypads, and base stations. The systems are easy to install and do not require any drilling or wiring. The systems are also customizable and can be tailored to different home sizes and needs.
SimpliSafe provides 24/7 professional monitoring and alerts for its systems. The monitoring service costs $14.99 per month for the Standard plan, which covers basic security features, and $24.99 per month for the Interactive plan, which includes additional features such as remote control, video verification, and smart home integration. The monitoring service does not require any long-term contracts and can be canceled at any time.
SimpliSafe also offers a range of accessories and add-ons for its systems, such as smoke detectors, water sensors, panic buttons, and smart plugs. The company also sells its own smart home devices, such as the SimpliCam, the Smart Lock, and the Video Doorbell Pro. These devices can be controlled through the SimpliSafe app or through voice assistants such as Amazon Alexa and Google Assistant.
SimpliSafe’s Competitors and Market Position
SimpliSafe competes with other home security companies that offer similar wireless and DIY solutions, such as Ring, Vivint, Frontpoint, and ADT. SimpliSafe has several advantages over its competitors, such as its low prices, its no-contract policy, its easy installation, and its customer service. However, SimpliSafe also faces some challenges, such as its limited smart home compatibility, its lack of outdoor cameras, and its potential security vulnerabilities.
SimpliSafe has a strong market position in the US home security industry, which is expected to grow at a compound annual growth rate of 8.3% from 2020 to 2025, reaching $74.75 billion by 2025, according to a report by MarketsandMarkets. SimpliSafe has a loyal customer base and a high customer satisfaction rate. The company has also received several awards and recognitions, such as the CNET Editors’ Choice Award, the PCMag Editors’ Choice Award, and the Wirecutter’s Best DIY Home Security System.
SimpliSafe is a leading American home security company that offers wireless and DIY security systems at affordable prices. The company was founded in 2006 by Chad and Eleanor Laurans, who were Harvard Business School students. The company has grown rapidly and has over 800 employees and 300,000 customers. SimpliSafe provides 24/7 professional monitoring and alerts, as well as various security and smart home devices. SimpliSafe competes with other wireless and DIY security companies, such as Ring, Vivint, Frontpoint, and ADT. SimpliSafe has a strong market position and a high customer satisfaction rate. SimpliSafe is not a Chinese company and has no ties to China.