Latch (Startup)

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Latch is a company that manufactures digital smartlock systems for modern buildings. The smart access system is a fully integrated system of hardware and software that is accessible from a smartphone. The intuitive design allows for keyless entry, access sharing, and even controlled unattended delivery. [1]


Overview

Latch was founded in 2013 by a triumvirate of co-founders. CEO Luke Schoenfelder spent four years at Apple Inc. supporting international market expansion, CDO Thomas Meyerhoffer is another Apple alumni who is the brains behind the design, and CTO Brian Jones has extensive experience building remote data acquisition systems. [2]


Latch seeks to optimize and disrupt the lock and key industry by providing solutions for problems that were once thought to be inevitable. Simplifying key handoffs during the leasing process, eliminating the need to mechanically re-key locks when occupants move, dealing with locked out tenants, problems with unexpected guests, and other common occurrences.


In March of 2019 Latch announced that one in ten new apartments in the US are being built with Latch's smart access technology, an impressive feat considering Latch has only been selling its systems since 2017. [3]


Products

Latch sells 3 different products:

  • R Series for building entrances, common areas, elevators and garage gates [4]
  • M Series for apartment entry doors [5]
  • C Series for apartment entry doors [6]

Investors

As of March 2019 Latch has received a total of $96 million dollars in investments from Lux Capital , RRE Ventures, Primary Venture Partners and others. [7]

Partnerships

Latch has partnerships with Comelit smart intercoms, Niido properties, Walmart's Jet.com, and UPS. [8] [9] [10] [11]

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