Emergency kit maker in Series B funding
Most families in the United States say preparation for a disaster is important, but fewer than 13% of them have taken any preparedness measures; this where this Canadian company comes in
Remember Victor Kiam, the man who said he liked Remington razors so much that he bought the company? Well, during the 2003 blackout in Canada and the United States, Michael Baruch, Morley Ivers, and Jared Rabinowitz found themselves stranded without adequate supplies such as food, portable radios, and flashlight batteries. Around them they watched people stand in line at stores to buy essentials, often to find store shelves bare. The three did not like what they saw so much, that they decided to create the American Family Safety, a Toronto-based company providing families with the essential tools needed to protect themselves in an emergency. The emergencies the company prepares families for go beyond blackouts, to more devastating disasters such as earthquakes, hurricanes, or terrorism.
During the 2004 Series A funding, American Family Safety raised more than $1 million to setup its operating infrastructure and marketing presence. The company has now initiated Series B financing and is preparing for significant expansion in 2006
Most of the demand for the company’s kits and services come from the United States, and the company is now embarking on its Series B funding to meet this ever-increasing U.S. demand for emergency preparedness products. We note that this growing demand is evident in both the business-to-business and consumer marketplaces. This financing round will help American Family Safety expand its operations and distribution channels at the same time that it increases margins by sourcing an extended American Family Safety branded product line.
Emergency preparedness should be good business. Surveys found that after Katrina, nearly 50 percent of people were more concerned about a natural disaster affecting them, but that only 13 percent of those surveyed had purchased an emergency kit with essential supplies. DHS has emphasized that having a complete disaster readiness kit is the best way to increase chances of survival in an emergency situation.
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