LifeShield Security Locks Up More Than $8 Million in Third Round of Funding
Investor Confidence Strengthened as Company Shows Rapid Growth and an Evolving Business Model Designed to Disrupt the Tired Home Security Market
July 20, 2011 -- Yardley, PA – LifeShield™ Security (www.LifeShield.com) is pleased to announce that it has raised another round of more than US$8 million in funding from a variety of sources. Investors include: Newspring Capital, Associated Group, Novitas Capital, Centerpoint Ventures, First Round Capital, MHS Capital, company CEO Mike Hagan, and other investors.
Between December 2009 and July 2011 the company has raised roughly $20 million. This new round of funding will accelerate the company’s Direct-to-Consumer customer acquisition efforts, enable significant investment in LifeView, LifeShield’s home security and automation platform, and also allow LifeShield to launch its new local dealer and affiliate network.
“The home security space has been one of the last industries to be disrupted by the Internet,” said Mike Hagan, LifeShield’s CEO. “That’s about to change. Home security customers have been paying far too much money for inferior services and inadequate technology. Empowering individuals by connecting them to their two most important assets – their families and their home - through the most advanced technology platform available in the market is what LifeShield is all about.”
“Mike Hagan and his team are proven visionaries when it comes to finding new ways to upset stagnant -- though very profitable – consumer markets,” said Mike DiPiano, Managing Director, NewSpring Capital. “We’re convinced that the home security market is going through rapid innovation and since LifeShield Security has several structural advantages versus the industry incumbents, we believe that Mike’s team is in the best position to come out the clear winner in this changing marketplace.”
For more information, visit www.LifeShield.com, or contact 1-866-222-8580. To view a brief video about LifeShield Security, click here.
About the Investors
Associated Partners L.P. is a private investment partnership focusing on long term value creation across the telecommunications, internet, media, technology and infrastructure sectors. The firm's core group of principals has extensive investment and operating experience in these industry segments.
CenterPoint Ventures is one of the largest early-stage venture capital firms based in the Southwest. Founded in 1996, they have helped scores of entrepreneurs build successful, enduring companies that deliver long-term value to investors, founders, employees and customers alike.
First Round Capital is a seed-stage venture capital firm dedicated to helping talented entrepreneurs build great companies. With over 80 portfolio companies and often providing a company's first outside capital, First Round Capital invests nationally and has offices in New York, San Francisco, and Philadelphia.
MHS Capital is a venture capital firm backed by an extraordinary group of technology executives, including senior executives from every major Internet portal, and a deep roster of serial entrepreneurs currently building leading software and Internet companies. MHS is located in San Francisco.
NewSpring Capital, based in Radnor, Pennsylvania, and Short Hills, New Jersey, is a leading provider of private equity capital to the Mid-Atlantic region. NewSpring Capital currently manages over $500 million across three distinct investment strategies through its family of funds. NewSpring Growth Capital provides equity capital to growth and expansion stage companies with a focus on business services, enabling technology and information technology.
Novitas (formerly PA Early Stage Partners) is an early stage venture capital firm. For more than a decade, Novitas has successfully invested in and generated returns on early-stage technology and life science companies. Based in Wayne, PA, Novitas currently has more than 30 active portfolio companies with about $240m under management across three venture funds.
About LifeShield Security™
LifeShield Security™ is the first national, professional grade and professionally monitored wireless security system that uses an easy to set-up “plug and protect” process, providing superior home protection and the best value in total home security. For more on LifeShield Security, visit www.lifeshield.com.
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