AngelList with Expansion VC Join $50 Million Series C Investment in Life360
SAN FRANCISCO, Aug. 7, 2014 /PRNewswire/ -- Life360, the leading Family Network, announced today that Expansion VC and other AngelList members plan to join the previously announced $50 million Series C financing in Life360 led by ADT. The Expansion VC Syndicate is aiming to raise $500,000 from key angels to join the round.
"We've seen dramatic wealth creation in private markets as companies delay their IPOs," said Ash Fontana, at AngelList. "Companies are staying private longer, raising more money through sites like AngelList and growing their valuations in the pre-IPO stage."
"AngelList played an important role in our Series A financing and we valued the relationships that emerged from that round," said Chris Hulls, co-founder and CEO of Life360. "We had a lot of interest from some great angels to join our Series C, but we did not have the capacity to add them individually. This relationship with AngelList allows us to bring in a prominent group of angel investors at this later stage in our growth. It is a great proposition for us all."
Life360 is adding more than 1 million new families each month to its user base. Last month, Life360 shared details about its focus on international growth with the launch of Life360 for Windows Phone and expanded language support that now includes Spanish, German, Korean, Italian, Russian, Portuguese and Indonesian. The company has experienced 260% growth internationally in the past year, with limited functionality outside of the U.S., until now.
Partnerships with companies like BMW, ADT and Samsung are positioning Life360 to become the hub for the connected family, offering ways for families to integrate family location awareness into their smart homes and cars. By the end of 2014, Life360 integrations with ADT Security Systems and BMW will be available to consumers.
"We are very excited to be able to offer a 'VC deal' to everyday Angel Investors, something that without Angel list Syndicates we would not be able to do," said Ryan Melohn Co-Founder of Expansion VC.
More than 39 million families use Life360 to stay connected – sharing their locations, communicating easily within the family with in-app messaging, and sending an alert if someone needs help. The app's popular geo-fencing feature enables families to set up and receive automatic alerts when a family member arrives or departs from a designated location, such as school, work or home.
AngelList is a platform for over 300,000 startups to meet investors, talent and incubators. Startups like Uber, Leap Motion and thousands more have raised money on AngelList: http://angel.co/done-deals. Every month, startups raise millions of dollars online through Syndicates from over 40,000 investors. These startups have gone on to raise over $2B. Startups like Path, Khan Academy and thousands more use AngelList to meet over ~2,000 candidates every week.
About Expansion VC
Expansion Venture Capital is a venture capital firm focused in early and growth stage companies. Located in New York City, EVC was founded by brothers, Joseph and Ryan Melohn.
We pride ourselves on being available for our teams of entrepreneurs 24/7. We work side by side with them, providing intellectual capital and assistance in any way we can. From mentorship to business development, raising capital, getting the right press, are some of the ways "we work for you." When one of our founders have a question we want to be the first place they turn. Their success is our success!
Life360 is the leading Family Network available for Android and the iPhone. Using proprietary location-based technology, Life360 enables families to share their locations, know when someone needs help and communicate easily with in-app messaging. The app operates in a convenient and secure way that does not interfere with busy schedules or personal freedom. Founded in 2008, Life360 placed first in Google's Android Developer Challenge in that same year and has received funding from several prominent investors. For more information, visit www.life360.com.