“GTCR is a fantastic partner for us,” Shahidi said. “They have a ton of experience in the home security business and have actually been watching SimpliSafe for a very long time. They really love our strategy and see their investment as an accelerator to our business and the strategy that we have.”
Shahidi noted that Everon and SimpliSafe operate in distinct markets, serving different customer sizes and service models.
“Everon very much focuses on a very different size and scope of business than SimpliSafe does,” he said. “So I think there’s an advantage that GTCR knows the security space, but I don’t anticipate a massive change in our strategy once we complete the acquisition. I really see it being an accelerator to our product, channel and brand strategy.”
Maintaining vertical integration
Shahidi emphasized that SimpliSafe’s vertically integrated model — developing its own hardware, software and monitoring infrastructure — was a key factor in GTCR’s interest. That approach, he said, differs significantly from Everon’s platform partnership with Alarm.com.
“One of the things that the GTCR team really liked about what we do is our vertical integration,” Shahidi said. “It’s very different from the Everon and Alarm.com model, where we own the user experience, the software, the monitoring end-to-end. That has been so important for us because we can really put together an experience that’s as simple as it gets for installing a home or business security system. That’s the DNA of SimpliSafe and what has made us successful.”
Future collaboration still to be determined
As for what collaboration — if any — might occur between SimpliSafe and Everon once the deal closes, Shahidi said it is too early to predict.
“To be quite candid with you, it’s hard to tell what the future will look like and what that vision is going to be that our new investors will have,” he said. “There’s going to be a lot of discussion on day one and through the first several months with our new investors trying to figure out how we accelerate our strategies and executions. I honestly don’t know the answer one way or the other.”
Distinct markets, shared ownership
Under GTCR’s ownership, the two companies occupy complementary positions in the market: Everon focusing on enterprise integration and life safety systems, and SimpliSafe continuing to serve residential and small-business customers.
For Shahidi, GTCR’s involvement represents validation of SimpliSafe’s momentum and its vertically integrated approach.
“GTCR’s investment isn’t about changing who we are. It’s about helping us move faster,” he said.
