Wyze Labs Funding, Investors & Competitors

Wyze Labs has raised $155M across 4 funding rounds, most recently a $110M Series B in July 2021.

Last Wyze Labs funding round

$110M

Series B · Jul 2021

Cumulative funding Wyze Labs raised

$155M

across 4 funding rounds

Key investors in Wyze Labs

  • Norwest
  • American Family Ventures
  • Marcy Venture Partners
  • Amino Capital

Wyze Labs Overview

About Wyze Labs

Wyze Labs is a Kirkland, Washington-headquartered maker of affordable smart home devices including cameras, locks, and thermostats. Founded in 2017, the company partners with manufacturers for products like Wyze Cam v3 with 1080p video, color night vision, and AI motion detection, sold via Amazon and its app to millions of US households.


Founded

2017

HQ

United StatesSeattle, WA

Website

wyze.com

Status

Privately held

Customer focus

B2C

Revenue model

Product sales

Wyze Labs Funding History

Wyze Labs has raised a total of $155M across 4 funding rounds.

Wyze Labs' first fundraising round was a $20M Series A in January 2019. The most recent completed round was a $110M Series B in July 2021.

Wyze Labs funding rounds

Wyze Labs funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2021Series BMarcy Venture Partners (lead); American Family Ventures$110MWyze Labs, a Kirkland, Washington-based smart home device maker founded in 2017 by Amazon veterans, raised $110 million in a Series B funding round on July 29, 2021, led by Marcy Venture Partners with participation from American Family Ventures, Norwest Venture Partners, and iSeed Ventures. The company, known for affordable products like its $33 Wyze Cam security camera, offers over 30 items including robot vacuums, light strips, smart plugs, fitness trackers, headphones, scales, thermostats, smart floor lamps, smartwatches, sprinkler controls, and outdoor cameras, undercutting higher-priced competitors to drive smart home mass adoption. This round brought Wyze's total funding to $146 million across multiple rounds, following a $15 million raise in July 2020. Wyze plans to use the proceeds to heavily invest in artificial intelligence for its camera products, building on recent developments like person, vehicle, package, and pet detection, with more game-changing AI features in the works. The funding will also support improvements in internal processes such as customer service and shipping. At the time, Wyze had about 300 employees and aimed to enhance its product line with AI across its ecosystem.
Jul 2020Series ANorwest (lead); Amino Capital; American Family Ventures; Marcy Venture Partners$15MWyze Labs, Inc. closed a $15 million financing round on July 29, 2020, led by Norwest Venture Partners with participation from American Family Ventures, Marcy Venture Partners, and Amino Capital. The funding followed previous investments including seed funding from iSeed Ventures and a Series A from Norwest Venture Partners. The proceeds were allocated to enhance IoT infrastructure and AI in existing products while expanding into new smart home categories to drive mass adoption. Norwest partner Parker Barrile highlighted Wyze's progress from upstart to leader in smart home technology, citing game-changing devices and strong customer engagement as indicators of long-term success. This round built on Wyze's trajectory after selling 1 million Wyze Cam units by October 2018 and securing a $20 million investment from Norwest in January 2019. Amid the COVID-19 pandemic in March 2020, Wyze reduced its fundraising target from $50 million to $10 million and introduced the Cam Plus subscription to ensure survival.
May 2020Series ANorwest (lead); American Family Ventures$10MWyze Labs, a Seattle-based smart home technology provider founded in 2017, develops affordable internet-connected devices including security cameras, light bulbs, and smart wristbands. The company raised $10 million in a Series A-1 round around May 2020 led by Norwest Venture Partners with participation from American Family Ventures. This tranche was later expanded to a total of $15 million by July 2020, with additional investors Marcy Venture Partners and Amino Capital, bringing overall funding to at least $35 million. Funds were allocated to improve IoT infrastructure, AI features, and expand into new products like thermostats and video doorbells. Wyze previously completed a $20 million Series A in January 2019 led by Norwest and seed funding from iSeed Ventures.
Jan 2019Series ANorwest (lead)$20MWyze Labs, a Seattle-based smart home technology company founded by ex-Amazon employees, develops affordable products like the Wyze Cam and Wyze Cam Pan, launched in October 2017, emphasizing low margins, high volume, and customer-centric design to disrupt the smart home market. Wyze maintained 25 employees by end-2017, focusing on efficiency and value to compete against pricier incumbents like Amazon's cameras. The company raised $20 million in a Series A round announced January 31, 2019, led by Norwest Venture Partners, following a seed investment from iSeed Ventures, with plans to expand team size, develop new products such as an outdoor camera, and grow its accessible smart home ecosystem. By the round, Wyze had sold 1.5 million camera units and grown its user base significantly through community referrals, with nearly 80% of users recommending products leading to 200,000 additional users. The funding supports investments in next-generation smart home devices and services, partnering with manufacturers for high-quality, low-cost hardware and software that improves everyday life. Norwest partner Parker Barrile praised Wyze's broad consumer adoption via affordable cameras, positioning it to expand further.

Who has invested in Wyze Labs?

4 investors have backed Wyze Labs across its funding rounds, including Norwest, American Family Ventures, Marcy Venture Partners and Amino Capital.

Lead investors include Marcy Venture Partners and Norwest.


Wyze Labs Investors

Investors in Wyze Labs by funding rounds participated
InvestorHQRoundsRoleFirst check
American Family VenturesUnited StatesMadison, WI3ParticipantMay 2020
NorwestUnited StatesSan Francisco, CA3LeadJan 2019

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Wyze Labs Competitors

Wyze Labs competitors include listed companies like Lite-On Technology, Shenzhen Sunway and EZVIZ Network, and private ones like Smarter, Lanmi and Perfumeo.

Public and private companies comparable to Wyze Labs
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Lite-On TechnologyTaiwanTaiwanPublicly listed$5.2B$700M$20B2.9x
Shenzhen SunwayChinaChinaPublicly listed$1.3B$230M$8.3B5.7x
EZVIZ NetworkChinaChinaPublicly listed$880M$103M$3.3B2.8x
SmarterUnited KingdomLondonPrivate--$1.2B-
LanmiChinaDongguanPrivate--$716M-
PerfumeoUnited StatesSan Jose, CAPrivate--$450M-

Wyze Labs Public Comps

Wyze Labs is still privately-owned, but its public comps include Apple, Samsung, Dell, Sony, Xiaomi, Johnson Controls, Panasonic, Nintendo, Lenovo and Garmin.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Apple$416B$144B11.9x10.4x34.2x29.4x
Samsung$243B$67B4.4x2.4x15.8x4.4x
Dell$114B$12B3.5x2.4x34.3x20.1x
Sony$80B$17B1.8x1.7x8.5x8.9x
Xiaomi$68B$8.4B1.1x1.1x8.7x13.8x
Johnson Controls$24B$3B4.0x3.7x31.0x20.0x
Panasonic$52B$1.5B1.3x1.4x45.5x13.0x
Nintendo$15B$3.5B3.3x3.3x14.0x18.1x

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Common questions about Wyze Labs

When was Wyze Labs founded?Wyze Labs was founded in 2017.
Where is Wyze Labs headquartered?Wyze Labs is headquartered in Seattle, WA, United States.
Is Wyze Labs publicly listed?No, Wyze Labs is a private, VC-backed company.
How much funding has Wyze Labs raised?Wyze Labs has raised $155M across 4 funding rounds.
What was Wyze Labs' last funding round?Wyze Labs' last funding round was a $110M Series B in July 2021, led by Marcy Venture Partners.
Who are Wyze Labs' investors?Wyze Labs' investors include American Family Ventures, Norwest, Marcy Venture Partners and Amino Capital.
Which companies are comparable to Wyze Labs?Companies comparable to Wyze Labs include Lite-On Technology, Shenzhen Sunway, EZVIZ Network, Smarter, Lanmi and Perfumeo.

See companies similar to Wyze Labs

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