Smart Home Company Raises $32 Million

SmartRent, a company that connects property managers, owners and renters with smart home automation devices, has raised $32 million in its Series B funding round led by Bain Capital Ventures. SmartRent will use the funding to work with large-scale deployments, with the goal of having SmartRent-recommended products in over 20,000 units from apartment provider UDR, Inc. by the end of the summer. Currently, SmartRent has services over 40,000 units with IoT devices with another 66,000 planned for the rest of the year, according to their press release.

Working with architects building new complexes or updating existing properties, SmartRent helps owners and property managers save money and manage their properties more efficiently. The company also handles installation, activation, and training property managers on usage. Lucas Haldeman, founder and CEO of SmartRent, said,

“SmartRent continues to perform well as multifamily organizations that own and control more than 1.4 million units are either in the pilot process or are actively deploying the SmartRent solution across their portfolio.”

SmartRent’s solutions benefit both the property manager and the resident, according to their website. Solutions include:

  • Keyless entry systems
  • Climate and lighting scheduling 
  • Leak sensors
  • Voice assistants
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SmartRent Helps Multi-Family Developments Incorporate IoT Devices

The company’s recommended connected devices come from well-known brands like Nest, Schlage, and ecobee.

Smart Homes and Property Development

Increasingly, builders are incorporating smart home technology into the fabric of buildings. Both Amazon and Google, two leaders in the tech and smart home industries, have partnered with property developers to bring their respective ecosystems into initial housing designs. In September of 2018, Google partnered with KB Homes, one of the largest home-builders in the U.S, to create the KB Smart Home System which includes Google Assistant-compatible products.

In the same vein, Amazon’s Alexa Fund invested $6.7 million in Plant Prefab, a manufacturer of customized prefabricated homes, in hopes of integrating Alexa-enabled products into construction. With 600,000 new homes sold in 2018 in the United States alone, there is a plethora of opportunities to include home automation in the blueprints of construction.

Aliza Vigderman

Aliza Vigderman

Aliza is a journalist living in Brooklyn, New York. Throughout her career, her work has spanned many intersections within the tech industry. At SquareFoot, a New York-based real estate technology company, she wrote about the ways in which technology has changed the real estate industry, as well as the challenges that business owners face when they want to invest in property. At Degreed.com, an education technology website, Aliza created digital content for lifelong learners, exploring the ways in which technology has democratized education. Additionally, she has written articles for The Huffington Post as well as her own content on Medium, the online publishing platform. Aliza’s love of journalism and research stems from the excellent Journalism program at Brandeis University. At Brandeis, Aliza interned as a research assistant at the Schuster Institute for Investigative Journalism, a non-profit “news room without walls”. There, Aliza was paired with an investigative journalist and used academic databases to obtain data on everything from the suicide rates in Bhutan to local Boston court cases. Her last position was as an account executive at Yelp, educating business owners on the power of technology to increase revenue. Throughout, however, her heart remained with tech journalism, and she’s thrilled to be writing for Security Baron. When she’s not keeping afloat of the latest tech trends, Aliza likes to cook, read, and write. A former high school “Class Clown,” Aliza has completed two feature-length screenplays, a pilot, and countless comedic sketches. On her days off you can find her relaxing in Prospect Park, trying the latest flavors at Ample Hills Ice Cream, and spending time with friends and family.

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