The company acknowledged the vulnerability, stating it was not unique to SimpliSafe alarms and is inherent of other systems using similar technology. In February 2016, independent security firm IOActive identified a potential RF system vulnerability that could be used to target Simplisafe and other RF-based monitoring systems, allowing them to be disabled. In 2015, SimpliSafe grew from 100 employees to about 250 employees, and was reported to have 300,000 customers. The same year, the company was reported to have more than 100,000 customers and was listed as the second-fastest growing company in the Boston area on the Inc.
SIMPLISAFE SYSTEMS SERIES
In May 2014, Sequoia Capital invested $57 million in SimpliSafe through a Series A round of funding. In 2010, revenue for the company was $1.4 million.
SimpliSafe launched in 2009 with initial funding from angel investors. Mr Laurans designed the system and tested it at friends’ residences for feedback. The couple worked on SimpliSafe in their own home from 2006 to 2008. Prior to Harvard, Mr Laurans attended Yale, where he majored in electrical engineering and graduated in 2000. SimpliSafe was founded in 2006 by then- Harvard Business School students, Chad and Eleanor Laurans, after several friends in the Cambridge area experienced break-ins, but couldn't find a security company that was designed to help renters. The company produces and sells self-installed wireless security systems. SimpliSafe is an American home security company based in Boston, Massachusetts.
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