Investment to Accelerate Adoption of In-home Delivery Products and Services
SAN FRANCISCO--(BUSINESS WIRE)--August Home, Inc. the leading provider of smart locks and smart home access products and services, today announced it raised $25 million in Series C funding. The round included August Home's existing investors - Bessemer Venture Partners, Comcast Ventures, Maveron and Qualcomm Ventures - and includes new investors progressive, competitive energy retailer, 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:
Home Access Products - Deliver total, secure control over your front door, from anywhere, with a smartphone. The complete solution includes the August Smart Lock, August Smart Keypad and August Doorbell Cam.
Home Access Services - Transform every home, to enable a new economy of goods and services delivered inside the home. August products become even more powerful through seamless integration with leading smart home brands, services and platforms.
"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."
August Home Access Products
August Home products, which include 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.
August Home Access Services
August Home products become even more powerful with the ability to integrate leading brands and platforms that expand the capabilities of the 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.
About August Home, Inc.
At August Home we are all about secure, smart access. Our products and services give consumers total control over the front door from a smartphone. Ranked number three on the Wall Street Journal's 25 Top Tech Companies to Watch, August is headquartered in San Francisco, California.