As more and more consumers start to build smart homes, manufacturers of these new connected devices, like smart locks, need funding to help expand to keep up with demand. Today, August Home, Inc. the leading provider of smart locks and smart home access products and services, announced a new round of funding ($25 million in Series C). The investment for this round came from August Home's existing investors – Bessemer Venture Partners, Comcast Ventures, Maveron and Qualcomm Ventures – and their new investors AGL, Liberty Mutual and European private equity fund, SPDG. This brings the company's total funding to $75 million.
Since the company's Series B financing in 2015, August introduced four new products and developed partnerships with companies including Airbnb, Amazon, Apple, Google, HomeAway, and Nest. These developments helped advance the company's mission to help people control access to their homes, enabling secure delivery of goods and services inside the home. In doing so, August Home has become the best-selling smart lock and increased lock sales by 300 percent year-over-year with more than 260 million lock operations and 500,000 users.
The new round of funding will be used to expand operations and extend the company's market-leading products and services:
"I am incredibly proud of the work that we have done to establish the August Smart Lock as the category leader and partner to like-minded category disruptors that are using technology to bring innovation to the home," said Jason Johnson, CEO of August Home. "This investment will allow us to capitalize on the opportunity ahead of us – to bring quality products and secure in-home delivery to the masses."
"The company reimagined front door access and control with the August Smart Lock," commented Michael Yang, Managing Director of Comcast Ventures. "Now, with its growing list of partners and expanding family of products, the company continues to be a catalyst for the growth of safe in-home delivery, and we have the utmost confidence in the company's ability to deliver on this vision."
One of the things GearBrain likes about August Home products is how all their products link together to form a viable security product for today's smart home. The August Smart Lock, August Smart Keypad and August Doorbell Cam, form a complete system that turns a smartphone into a command center for the front door, allowing people to manage their front door from anywhere. The August Smart Lock turns a smartphone into a smart key where consumers can lock and unlock their door, create virtual keys for guests and keep track of who comes and goes with a 24/7 activity log. The August Smart Keypad also lets users create unique entry codes for family, friends and service providers to unlock an August Smart Lock without a traditional key or smartphone. The August Doorbell Cam lets consumers see and speak with visitors at the door, from anywhere, using a smartphone.
Another nice feature August Home products offer is compatibility with other premium connected devices for today's smart home. August Home products have the ability to integrate with leading brands and platforms to expand the capabilities of their products. August Home Access partners include leading platforms such as Amazon Alexa, Apple HomeKit, the Google Assistant, and Nest. Additional August partners include premier security provider Honeywell Total Connect, Wink and Xfinity Home. For more information, visit August Home Access.
To learn more information about August Home and their products, visit their website.