Nanit Secures $25 Million in Series C Funding

Nanit, a company specializing in nursery cameras, utilizes advanced computer vision technology in conjunction with uniquely designed baby clothing. This innovative approach addresses a common concern for new parents: verifying their baby’s breathing.

New Investment and Board Addition

The company announced today that it has successfully secured $25 million in a Series C funding round. This round was spearheaded by GV, a prominent venture capital firm.

As a result of this investment, Frederique Dame from GV will be joining Nanit’s board of directors, bringing valuable expertise to the company’s leadership.

Significant Sales Growth

Nanit experienced substantial growth throughout the past year, fueling this Series C raise. Although the precise number of cameras sold to date hasn't been disclosed, CEO Sarah Dorsett confirmed a 130% increase in camera sales in 2020 compared to 2019.

Introducing the Nanit Pro and Smart Sheets

Earlier this month, Nanit unveiled the Nanit Pro, a more advanced version of its popular camera. Priced at $299, compared to $249 for the Nanit Plus, the Pro boasts enhanced resolution and improvements to features like the integrated night light and overall user experience.

Alongside the Nanit Pro, the company also launched a new line of “smart sheets.” These sheets feature a distinctive black-and-white pattern that the camera recognizes to accurately measure and track the baby’s height between scheduled pediatrician appointments.

Expansion Plans for a Comprehensive Nursery Ecosystem

Dorsett indicated that Nanit intends to broaden its product range beyond cameras. The company is exploring additions to its nursery offerings, including items such as changing pads and nightlights.

These products will be enhanced by Nanit’s existing app experience, offering a more integrated and valuable solution for parents.

Total Funding Reaches $75 Million

This Series C round brings Nanit’s total funding to $75 million. The investment was supported by both GV, as a new investor, and existing backers including Jerusalem Venture Partners, RRE Ventures, Upfront Ventures, and Rho Capital Partners.

The continued support demonstrates confidence in Nanit’s innovative approach to baby monitoring and its potential for growth within the nursery product market.