Total amount raised
$342.1 Millions
Latest funding date
6/1/2021
Location
Latch has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors. The company specializes in smart locks, access control systems, and property management software.
Keep reading to explore the intricacies of Latch's fundraising journey and the investors backing this innovative platform.
What Is Latch?
Founded in 2014, Latch is headquartered in New York, New York. The company was established by Brian Jones, Luke Schoenfelder, and Thomas Meyerhoffer.
Latch specializes in smart locks, access control systems, and property management software, aiming to enhance the living and working experience in modern buildings.
With a team of 101-250 employees, Latch continues to innovate in the realm of building management technology.
How Much Funding Has Latch Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: October 2014
- Lead Investors: Techstars
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and validate the market need for smart access systems.
- Seed Round
- Amount Raised: $5.5M
- Date: April 2015
- Lead Investors: Camber Creek, Third Prime
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and further develop the product.
- Series A
- Amount Raised: $10.5M
- Date: February 2016
- Lead Investors: Lux Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale production and begin market penetration.
- Series A
- Amount Raised: $10M
- Date: May 2017
- Lead Investors: RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and expand market reach.
- Series B
- Amount Raised: $70M
- Date: August 2018
- Lead Investors: Brookfield Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth, develop new products, and expand geographically.
- Series B
- Amount Raised: $56M
- Date: August 2019
- Lead Investors: Avenir
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling operations and enhance product offerings.
- Post-IPO Equity
- Amount Raised: $190M
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support post-IPO growth and further market expansion.
Total Amount Raised: $442.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Brookfield Ventures
- Details: Brookfield Ventures is the venture capital arm of Brookfield Asset Management, a global leader in real estate and infrastructure. They focus on investments that can enhance the value of Brookfield's extensive portfolio.
- Investment Focus Areas: Real estate, infrastructure, technology.
- Notable Investments: Convene, Industrious, Latch.
- Lux Capital
- Details: Lux Capital is a venture capital firm that invests in emerging science and technology ventures. They aim to support companies that are pushing the boundaries of innovation.
- Investment Focus Areas: Science, technology, healthcare.
- Notable Investments: Zoox, Shapeways, Latch.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage companies across various sectors. They have a strong focus on technology and innovation.
- Investment Focus Areas: Technology, fintech, media.
- Notable Investments: BuzzFeed, Venmo, Latch.
- Camber Creek
- Details: Camber Creek is a venture capital firm that invests in technology companies focused on the real estate sector. They aim to bring innovative solutions to the real estate industry.
- Investment Focus Areas: Real estate technology, property management, construction tech.
- Notable Investments: VTS, Measurabl, Latch.
- Third Prime
- Details: Third Prime is a venture capital firm that invests in early-stage companies across various sectors. They focus on supporting high-growth potential startups.
- Investment Focus Areas: Fintech, healthcare, technology.
- Notable Investments: Petal, Latch, Eden Health.
What's Next for Latch?
Latch stands at the cusp of significant growth opportunities, driven by the increasing demand for smart access systems in multi-family buildings. With a $25 billion market space expected to grow rapidly, the company is well-positioned to expand its product offerings and geographic reach. Partnerships with major companies like UPS, Walmart, and Brookfield Properties further amplify its potential for market penetration.
Future fundraising opportunities appear promising as Latch continues to attract investment to support its ambitious growth plans. However, the company may face challenges such as competition from other smart access providers and the need to continuously innovate to ensure security and reliability. Managing rapid growth and scaling operations effectively will be crucial for Latch's sustained success.
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