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Latch raises $70M Series B

Round was led by Brookfield Ventures

Founder and CEO, Luke Schoenfelder (Credit: Latch)

Digital lock startup Latch raised $70 million in a Series B round, which values the company at more than $250 million. The round was led by Brookfield Ventures as first reported by the WSJ.

What they do: The company manufactures smart locks for apartment buildings, which can be opened with a cellphone app, cards, or time-limited access codes. This allows residences to become more easily accessible for maintenance staff, package carriers and tenants.

Security is key… The device takes photos of every interaction the lock has with a non-resident.

Other investors include: Lux Capital, RRE Ventures, Primary Venture Partners, Third Prime, Camber Creek, Corigin Ventures, Tishman Speyer, and Balyasny Asset Management.

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