Total amount raised
$22 Millions
Latest funding date
9/1/2016
Location
Luma has successfully raised funding through a Series A round, attracting notable investors such as Andreessen Horowitz and Google Ventures. The company, known for its surround WiFi system, was later acquired by First Alert.
Keep reading to explore the intricacies of Luma's fundraising journey and the investors backing this innovative platform.
What Is Luma?
Luma, founded in 2014 by Dr. Paul Judge and Mike Van Bruinisse, is headquartered in Atlanta, Georgia. The company specializes in providing a surround WiFi system designed to modernize home internet.
With a focus on creating a fast, simple, secure, and reliable network, Luma aims to cater to the needs of modern connected homes. The company has a team of 11-50 employees dedicated to this mission.
For more detailed information, you can visit their Crunchbase profile.
How Much Funding Has Luma Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: November 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development and initial launch of Luma's surround WiFi system.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: February 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the product and prepare for market entry.
- Series A
- Amount Raised: $12.5M
- Date: April 2016
- Lead Investors: Accel, Amazon Alexa Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product adoption, global operations, and continue R&D.
- Series A
- Amount Raised: $7M
- Date: September 2016
- Lead Investors: Andreessen Horowitz, Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
Total Amount Raised: $22M. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a prominent venture capital firm based in Silicon Valley. It was founded by Marc Andreessen and Ben Horowitz in 2009.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Facebook, Airbnb, Slack.
- Google Ventures
- Details: Google Ventures, also known as GV, is the venture capital arm of Alphabet Inc. It was established in 2009 to invest in promising startups.
- Investment Focus Areas: Life sciences, artificial intelligence, robotics.
- Notable Investments: Uber, Nest, Medium.
- Accel
- Details: Accel is a global venture capital firm that focuses on early and growth-stage investments. It was founded in 1983 and has offices in Palo Alto, London, and Bangalore.
- Investment Focus Areas: Consumer internet, enterprise software, fintech.
- Notable Investments: Dropbox, Spotify, Facebook.
- Amazon Alexa Fund
- Details: The Amazon Alexa Fund is a venture capital fund that invests in companies innovating in voice technology. It was launched by Amazon in 2015.
- Investment Focus Areas: Voice technology, smart home, artificial intelligence.
- Notable Investments: Ecobee, Ring, Mojio.
What's Next for Luma?
Luma's future looks promising with significant opportunities on the horizon. The company plans to expand the adoption of its flagship WiFi product and scale global operations. With over 30,000 pre-orders already secured, the demand is evident, and the recent $12.5 million Series A funding provides a solid financial foundation to capitalize on these opportunities.
Future fundraising seems likely, given the involvement of high-profile investors and the addition of new executive team members. This financial backing could help Luma continue its research and development efforts, ensuring they stay ahead in the competitive home WiFi market. However, challenges such as scaling operations effectively and meeting high demand will need to be addressed.
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