Type Private Headquarters Boston, MA Products Home Security Systems | Industry Home Security Area served United States Founded 2006 | |
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Founders Eleanor Laurans, Chad Laurans Profiles | ||
SimpliSafe is an American home security company based in Boston, Massachusetts. The company was founded by Harvard Business School alumni, Chad and Eleanor Laurans, and produces and sells self-installed security systems that connect to a central monitoring center.
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History
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. Prior to Harvard, Chad attended Yale, where he majored in electrical engineering and graduated in 2000.
Chad and Eleanor worked on SimpliSafe in their own home from 2006 to 2008. Chad designed the system and tested it at friends’ residences for feedback. SimpliSafe launched in 2009 with initial funding from angel investors.
In 2010, revenue for the company was $1.4 million. In 2013 revenue was $38.5 million.
In May 2014, Sequoia Capital invested $57 million in SimpliSafe through a Series A round of funding. As part of the investment deal, Sequoia partner Scott Carter joined the SimpliSafe board. 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. 5000 list.
In 2015, SimpliSafe grew from 100 employees to about 250 employees, and were reported to have 300,000 customers.
Products
SimpliSafe systems include a base unit and a keypad, and a variety of peripheral sensors including door sensors, motion detectors, and smoke detectors. Other SimpliSafe products include glass-break sensors and temperature monitors. One SimpliSafe base unit supports up to 41 sensors. Systems are installed in a DIY-fashion by the homeowner. The systems are wireless and run on lithium batteries.
SimpliSafe products are sold on their website and in select stores such as Best Buy and Walmart.
As a standalone product, SimpliSafe systems function as a noise-only alarm system. The SimpliSafe base unit emits an 85-decibel siren. SimpliSafe monitoring services are provided for a monthly fee.
In 2013, SimpliSafe was named a CNET Editors’ Choice product.
In February 2016, IOActive reported a potential vulnerability in SimpliSafe systems. According to their report, it was possible for someone to remotely disable a SimpliSafe system if the operator had a second system, was within 100 yards of the home, and knew how to program the system to use it for this purpose. According to a response published by SimpliSafe, the situation is not unique to SimpliSafe alarms and is inherent of other systems using similar technology. In the scenario outlined by IOActive, the operator needed specialized equipment, expertise to program a chip using custom code and precise timing to execute. At the time, there had been no reports of anyone attempting this with their system or other systems outside of “a controlled testing environment.” SimpliSafe went on to list several ways that their systems protect homeowners from the most common types of burglaries, along with other steps to prevent the type of situation outlined by IOActive.