The start up company SimpliSafe announced in May that they had just landed $57 million from the Silicon Valley venture capital firm, Sequoia Capital.SimpliSafe now has the means to move from a 10,000 square foot building in Cambridge to a 20,000 square foot building in Boston.
The $57 million investment will allow for the transition to Midtown. On average, office rents in the downtown Boston area cost about $36.35 per square foot.
They have also increased their staff from 15 to 65 and predict by the end of the year to be up to 100 employees.
The company was founded by Chad Laurans after several of his friends were burglarized in 2006. Laurans believed that there was a more effective way to protect homes at a lower monthly monitoring price.
SimpliSafe offers a wireless home security system that can be controlled through mobile apps. The average home security systems costs $45 per month with a contract where as at SimpliSafe the cost is only $20 a month with no contract.