Latch raises $56 million at a $400 million valuation
By
Joseph Richter
Published on
Digital lock startup Latch has raised $56 million in a new funding round led by Avenir Growth Capital, valuing the company at $400 million, according to the WSJ.
What they do: The startup 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.
Flashback: Brookfield Ventures led the company’s $70 million Series B round last year at a $250 million valuation. (WSJ)