Scout Security is letting investors get into the home security startup, listing on the Australian Securities Exchange. The Chicago-based company is looking to bring its security systems international with the capital raised from going public.
As with many startups, Scout Security has already raised money from interested investors in private offerings including a crowdfunding round that didn’t use Kickstarter, saving the company a bunch of money.
It also earned an investment from the Amazon Alexa Fund, helping it jump into voice-controlled smart security long before some of its more traditional competitors.
Scout set itself apart in the market by offering some of the most affordable monthly subscription plans. While it’s equipment packages are a little pricey upfront, it’s hardware is straightforward and you can save money in the long run by avoiding costly monitoring packages.
The company hopes to appeal to investors with its steady recurring revenue and the heavy interest from millennials who’ve so far avoided buying into the home security market. Scout expects its revenue to continue to grow thanks to a growing smart-home market that often focuses on security products.
The listing will go live in July, and the new money will allow Scout to expand to Australia, the UK and Canada next year.