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Early Success Leads Owl Car Cam to $10M in Funding to Expand Production

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Instant Video for iOS and Android protects cars driving and parked

Today, Owl Cameras announced the company has attracted $10M in new
funding, an expansion to their previously announced Series A round. The
Series A1 Round was led by Canvas Ventures who invested alongside many
who participated in the company's Series A. This additional investment
brings the company's total venture funding to $28M.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180814005199/en/

Owl Camera (Photo: Business Wire)

Owl Camera (Photo: Business Wire)

Every year, one in two American families are impacted by dangerous and
costly events centered around the car, at a cost of more than $82
billion in loss and damages. Owl Cameras addresses this enormous problem.

Owl Car Cam was originally launched only for iOS, and initial inventory
sold out in a matter of weeks. The company also received tremendous
interest from Android users. The company has increased production and is
now shipping new orders immediately. And starting today, Owl is
available for both Android and iOS users with:

  • Instant Video right to your phone and privacy-locked
  • Video Alerts for break-ins, dings, and dents
  • Dual HD cameras, inside and out
  • Live View of your car from anywhere, anytime over LTE

Owl also announced today a completely redesigned app experience,
alongside new software and firmware features including:

  • Available for Android: download today from Google Play.
  • Complete UI redesign: Owl Car Cam App now works in portrait
    mode, and we've made it easier than ever to find, watch, and share
    your clips.
  • Enhanced Car Finder: see you and your car on a map - right on
    the Car Cam screen in the app - anytime, anywhere

Rebecca Lynn, General Partner at Canvas Ventures, will join the Owl
Board of Directors as a part of their investment, and had the following
to say about the company: "We decided to invest in Owl for two reasons:
the market opportunity and the team. People need and want video security
around their cars, and Owl's traction in the last six months shows
customers love their Owl Car Cams. We've seen a lot of pent-up demand
for car security, and Owl is tapping into that demand with a product
that's easy to install and use. This is a testament to the team's
decades of experience building mega-hits like the iPod, iPhone, and
Dropcam, and gives them a huge leg up in creating a device and service
people feel excited to use every day."

Stats on Owl Car Cam's Instant Video Service since launch include:

  • Multiple car break-ins every week, with Owl video clips leading to the
    identification of suspects within 24 hours. - bit.ly/2vLKs8P
  • Hundreds of crashes and near-misses on the road
  • 78,000 voice triggered clips
  • 3,500 Owl videos submitted to Owl's daily video contest

Examples Caught on Owl: bit.ly/2KvzcmA

"We knew from the beginning that cars needed video security badly. The
results we've seen from our community of drivers in the months since
launch - from catching thieves after break-ins, to helping innocent
victims avoid blame in crashes - have far exceeded our expectations,"
said Andy Hodge, Founder and CEO of Owl. "With results this good in just
the early days, we are clearly onto something huge. Now, with additional
funding and increased production, we're ready to turn this growing trend
into something you see on every road in America."

When driving, the Owl Car Cam captures everything on the road including:

● Crashes

● Near-misses

● Police stops

● Odd or delightful things on the road

When parked, Owl is always on-guard ready to send Video Alerts straight
to the user's phone when it senses:

● Bumps in parking lots

● Impacts

● Broken glass

The combination of Owl's Video Alerts and Instant Video access over LTE
means that all of this footage, is easily accessible in seconds to use
for:

● Insurance claims

● Identification of suspects

● Sharing with family and friends

All Owl video is Privacy Locked on the camera and within the Owl app, so
video is completely private unless the customer chooses to share it
footage.

The Owl Car Cam sells as a bundle for $349, which includes 1 year of LTE
Instant Video service. The service includes unlimited Video Alerts and
60 minutes of remote making and viewing of video per month. After the
first year, users can renew 12 months of the Instant Video Service for
$99 (or $10 per month) and, should a user ever run out of minutes during
a month, 60 more minutes are available to purchase for $5 through the
Owl app. Without the Instant Video service, users can still access all
their video over a direct Wi-Fi connection.

About Owl:

At Owl we love cars and the people in them. We noticed that video
security was missing where the most happens: around our cars. In the
past we've been leaders on the teams that built iPod, iPhone, HoloLens
and Dropcam. Now, we're bringing you Owl. Owl is based in Palo Alto, CA.

About Canvas

Founded in 2013, Canvas is an early-stage venture capital firm based in
Silicon Valley with general partners Rebecca Lynn, Paul Hsiao and Gary
Little. Prior to founding Canvas, the partners led the Series B
investment in Lending Club and the Series A investment in MuleSoft, two
of the top-10 IPOs in the US since 2013 according to The New York
Times
. The firm's key investment areas include online marketplaces,
AI/machine learning, digital health, fintech, and "new enterprise."
Canvas portfolio companies include: 11 Honoré, Casetext, eporta, Eden,
Everwise, Figure Eight, Fluxx, Folloze, FutureAdvisor, Gabi, HealthLoop,
Hustle, KIDBOX, Kinetica, Luminar Technologies, Platform9, Roofstock,
Thrive Global, Totango, Transfix, Vida Health, Viewics, and Zola. Other
investments the partners have made prior to founding Canvas include:
Houzz, Evernote, NexTag, Check, Doximity, Upwork, and more. www.canvas.vc.

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