Google is reportedly mulling an acquisition of Dropcam, one of the premiere home security startups operating today. After spending $3.2 billion earlier this year to purchase Nest, Google may be looking to dip its toes in the security field.
We’ve spoken many times about Dropcam’s considerable achievements, both as a cloud-connected software company and a consummate hardware developer, and joining Google and the Nest team seems like a good fit. The company’s creator, Greg Duffy, recently spoke about how Dropcam is expanding beyond cameras to include location-aware Tabs, which use Bluetooth LE to communicate with a Dropcam Pro hub to increase security within the home.
It’s unclear for how much the acquisition would be, but Dropcam has raised over $47 million to date, including a recent $30 million round, so estimates in the $300 million range don’t seem unlikely.