SmartRent Raises USD 60 Million in Series C Round of Financing

SmartRent Raises USD 60 Million in Series C Round of Financing

As the COVID-19 pandemic continues to spread around the world, a new digital era is emerging where contactless experiences are required to address the needs of multifamily property owners/operators, and residents

Fremont, CA: Smart home automation service provider, SmartRent, secured USD 60 million in a Series C funding round led by Spark Capital with participation from Fifth Wall, Energy Impact Partners, the Amazon Alexa Fund, Bain Capital Ventures, and RET Ventures. As the COVID-19 pandemic continues to spread around the world, a new digital era is emerging where contactless experiences are required to address the needs of multifamily property owners/operators, and residents. Real estate companies are turning to smart home and smart access technologies to meet the new reality.

Top 10 Rental Management Consulting/Service Companies - 2020"This round of funding will enable our next phase of growth as we expand our portfolio to ensure more homes can benefit from seamless smart home experience," said Lucas Haldeman, CEO, and Co-founder of SmartRent. "With this latest funding round and new executive hires, we will continue to evolve our offerings to support the multifamily and housing industry amid a challenging economic period and increasingly digital society." SmartRent's explosive package of shipping, product, and food delivery, combined with the need for self-guided tours and contactless entry, has been driving demand for its services.

SmartRent offers a range of connected, brand-agnostic solutions designed to give multifamily property owners, managers, and residents more efficiency, convenience, and security protection across their property. Some of the company's solutions include the Alloy Fusion all-in-one touchscreen hub and thermostat, the newly launched Alloy Access for access control, and self-guided tours. SmartRent's clientele includes Essex Property Trust, MAA, and Aimco, who use SmartRent to connect, automate, protect and manage tens of thousands of housing units nationwide.

"The tailwinds of e-commerce, food and grocery delivery and the broader digital economy were already significant entering 2020, resulting in widespread demand for hardware-agnostic smart home and access technology platforms like SmartRent," said Will Reed, General Partner at Spark Capital. "That demand has only accelerated as property owners, and operators look for ways to make property tours contactless and handle deliveries in a seamless manner. We're thrilled to partner with Lucas and the entire SmartRent team as they continue to help an entire segment of the economy digitally transforms their operations and resident experiences."

See also: Top PropTech Solution Companies

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