Boundary raises £1.22m from Equity Gap and SIB for alarm
Hiring: Robin Knox and Paul Walton
Home security startup, Boundary, has secured £1.22 million from Equity Gap and the Scottish Investment Bank to create several jobs and prepare for launch.
Boundary is the creation of Robin Knox and Paul Walton, the entrepreneurs behind IntelligentPOS, which was acquired by iZettle in 2016 and subsequently sold to PayPal for £1.6 billion.
The pair intend to hire software developers and other staff in customer support and marketing at new headquarters in the offices of WeWork in George Street, Edinburgh.
The funding will also be used to finalise the product’s development, ensuring it is ready in time for Boundary’s official commercial launch in 2020.
The funding comes hot on the heels of Boundary’s crowdfunding campaign on Kickstarter, which saw the firm reach its £50,000 target in less than 48 hours.
Mr Knox, co-founder and CEO of Boundary, said: “We are always eager to support Scotland’s thriving tech scene and this cash injection will enable us to do just that by creating numerous tech roles in Edinburgh. We fully believe that our accessible, affordable smart home alarm will make waves within the UK’s home security market.”
He continued: “We were immensely pleased with the success of our Kickstarter campaign back in June. The support we received gave us the validation we were looking for that our product is something that people want and need.”
Fraser Lusty, director at Equity Gap, said: “We have known Robin and Paul for some time and of their previous successes. They have developed a consumer focused, digitally smart next generation security system and business model for a market ripe for disruption.
“Their customer acquisition, and service, skills are a big factor in our involvement and we look forward to working with the team through the launch phase.”
Customers can control the technology using an app on their mobile phone, bringing security alarms into the arena of Hive central heating controls or Sonos music systems.