American Family Ventures, the venture capital arm of Madison-based American Family Insurance, participated in a $15 million funding round in a company that makes internet-connected smart home devices.
The investment round for Seattle-based Wyze Labs Inc. was led by California-based Norwest Venture Partners, with participation from Marcy Venture Partners and Amino Capital. Marcy Venture Partners, which is also based in California, was co-founded by recording artist and record executive Jay-Z.
Since launching in 2017, Wyze has brought several products to market — including Wyze Cam, Wyze Bulb, Wyze Plug, Wyze Lock, Wyze Band, Wyze Scale — and most recently Wyze began accepting preorders for Wyze Cam Outdoor.
Wyze is planning to use the investment dollars for new products, including a thermostat and a video doorbell. Read the full story here.