Canary Smart Home Security System announced on March 5th that they have secured a $10 million in funding for their single unit smart home security solution. The product was first featured on Kickstarter and raised over $1.2 million in funding.
The Canary product is still being developed and is not currently being sold. The unit will cost around $200, and contains sensors and a camera. The idea is that the unit can do most things a traditional home security system can do. It has certain learning features, where it will supposedly understand the movements within the house, and then when activated if any movements seem unusual it will trigger.
The unit is self-monitored through a users smartphone, where the user can watch the camera, see video and arm and disarm the system.
There is currently no outside monitoring solution.
While the idea for the Canary Home Monitored Security System seems novel, unfortunately, it can't do everything a traditional home alarm system can. It has definite limitations. If you live in a small apartment, or a trailer home then the unit may well be enough to protect yourself. Beyond that, it simply doesn't have the functionality that a system with more equipment has. Multiple motion detectors located throughout the house adds more security value than a standalone unit.
Beyond that, if the unit does not have outside monitoring capabilities then the true level of protection is suspect. What if the homeowner is in a meeting and can't look at their smartphone or if the user's phone is dead? In both of those examples the system then simply becomes a local alarm providing little deterrent value.
The Canary Smart Home Security System seems like a product that would be found at The Sharper Image or Brookstone. It's a cool concept that in reality has little true value as a security solution. If someone is really looking for a real way to protect their home and family then a traditional security system, with increased features and equipment that is strategically placed throughout the house continues to be the ideal form of security.
Here's the Techcrunch article on Canary's latest round of funding: http://techcrunch.com/2014/03/05/canary-smart-home-security-system-nabs-10-million-series-a-from-khosla-ventures/