Latch (company)

Latch (company)

U.S-based company developing smart lock security systems for apartment-style buildings.

Latch is a company that provides keyless security systems for people living in apartment-style buildings. It was founded by Brian Jones, Luke Schoenfelder, and Thomas Meyerhoffer. Latch aims to provide a more seamless living experience for apartment dwellers through the use of keyless entry access. The company is currently based in New York City, New York.

Service

The main service that Latch offers comes in the form of hardware and software designed to help users in entering places that they have authorized access to. The hardware is attached to the door latches and comes at several types to suit different door models. This hardware will function as a reader to the software – which comes in the form of mobile and desktop applications. Users can not open doors by accessing the application, but also by inputting a code or using a keycard. Building managers can give access permissions to tenants, and tenants can give limited access permission to their building for their guests.

Funding

Latch has received a total capital of $96 million from five founding rounds since 2014. The most recent round was held on August 2018; a Series B that raised $70 million. To date, twenty-four investors have provided funding to Latch, including Primary Venture Partners, RRE Ventures, Balyasny Asset Management, and Third Prime.

Timeline

August 2018
Latch raises a $70,000,000 series B round from Balyasny Asset Management, Brookfield Ventures, Camber Creek, Corigin Ventures, Lux Capital Management, Primary Venture Partners, RRE Ventures, Third Prime and Tishman Speyer.
May 2017
Latch raises a $10,000,000 series A round from RRE Ventures.

Funding rounds

Funding round
Funding type
Funding round amount (USD)
Funding round date
Investment
Latch funding round, August 2018
70,000,000
August 2018
3 Results
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People

Name
Role
LinkedIn

Brian Jones

CTO, Co-Founder

Luke Schoenfelder

CEO, Co-Founder

Thomas Meyerhoffer

CDO, Co-Founder

Further reading

Title
Author
Link
Type
Date

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Brad Svrluga
January 28, 2021
AlleyWatch
The Pulse of New York Tech
Brian Heater
January 25, 2021
TechCrunch
This week, Latch becomes the latest company to join the SPAC parade. Founded in 2014, the New York-based company came out of stealth two years later, launching a smart lock system. Though, like many companies primarily known for hardware solutions, Latch says it's more, offering a connected security software platform for owners of apartment buildings. [...]
Alex Wilhelm
January 25, 2021
TechCrunch
Latch is an enterprise SaaS company that makes keyless entry systems for buildings; Sunlight Financial offers point of sale financing for residential solar systems.
Latch, Inc.
January 25, 2021
www.prnewswire.com:443
/PRNewswire/ -- Latch, Inc. ("Latch" or the "Company"), maker of the full-building enterprise software-as-a-service (SaaS) platform LatchOS, and TS Innovation...

References

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