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Life360 operates as a freemium app, and users can pay for extra features.

Life360 allows users to create geofences that alert them when another enters or leaves another location. 'caregivers', 'extended family', and 'John's baseball team.' Users' location is only visible to those who are also in the circle, and members in 'caregivers' cannot see the location of users in 'extended family', unless they are also in that circle. Circles allows users to create separate groups within the app, e.g. Circles Д¬ircles is the app's newest feature, released on September 3, 2013. Users can choose to share or not their location with any particular circle at any particular time. Users can open the app and see where other members are instantly. The main feature of the app is location sharing. It has four main features: location sharing, circles, places, and premium. It allows users to share locations, group message, and call for roadside assistance.

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The app is a social network for families and differentiates itself in this way as it is not based around peer groups or professional networks such as Find My Friends and LinkedIn. Life360 is a mobile application and was referred to as a 'family-oriented private social network' by Bloomberg Businessweek. In November 2021, Life360 agreed to acquire Tile in a $205 million acquisition, and is expected to integrate the two services, expanding Tile's tracking reach tenfold. By December 2019, Life360 surpassed 27 million monthly active users (MAUs). In November 2019, the company acquired ZenScreen, a San Jose, California-based app that guides users and their families to track and attain screen time habits for a more balanced digital diet, for an undisclosed sum.

The majority of the funds raised are to be used to grow the business globally and develop home insurance and home security products as well as auto insurance sold directly to service its customers. In May 2019, Life360 listed on the Australian Securities Exchange (ASX) under the ticker '360', raising proceeds totaling AU$145.4 million. ADT Go connects and protects families outside the home, utilizing ADT's expansive security infrastructure. ДЄt CES in January 2018, ADT announced ADT Go in partnership with Life360. In February 2016, Life360 acquired the private messaging application and Y Combinator grad 'Couple' based in Mountain View, California. In 2016, Life360 added a feature that enables smartphones to detect when people are in a car crash and automatically contacts emergency response.

The announcement came after downloads of the Life360 app increased internationally, even though the app was only available in English. It was announced in 2013 that Life360 would be adding global support for its app which would include support in languages other than English and international SMS.

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Life360 also saw an increase in user registration following the announcement from Google that they would be shutting down their Google Latitude platform in August 2013. The same year, Life360 surpassed Foursquare in the number of registered users with 34 million and reached more than 40 million registered users the same year. Life360 entered into an agreement with BMW in 2013 to integrate the location services of Life360 with the navigation in BMW automobiles.

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Additional funding included $5.5 million in a Series A round, $17 million in a Series B round, and $50 million in a Series C round.

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The first funding for Life360 came in the form of a $275,000 grant as a winner of Google's 2008 Android Developer Challenge. The app was initially released in 2008 in the Android marketplace. Life360 was founded by Chris Hulls and has received a total of $90 million in funding since its launch, including funding from both Facebook and Google.