SmartThings Raises $12.5M in Series A Funding

smartthingsSmartThings, a Washington, D.C.-based open platform for the Internet of Things, raised $12.5m in Series A funding.

Backers included Greylock Partners and Highland Capital Partners. In conjunction with the funding, Greylock partner Josh Elman and Highland partner Manish Patel joined SmartThings’ board of directors.

The company, which has raised $15.5m sice inception, intends to use the funds to continue to enhance its products and to further expand distribution.

Led by Alex Hawkinson (read his post about the financing here), CEO and co-founder, SmartThings is building an open platform that enables consumers to install connected devices and control them through a single mobile app that makes their homes smarter.¬†With SmartThings, users can add a layer of security and additional insurance to their homes (notifications about unexpected motion while they’re away, alerts about the risk of water damage and extreme temperatures, the security of the garage door closing behind them when they leave, etc.).
It now supports an open ecosystem of over 3,000 inventors and developers producing new types of connected devices and apps in the cloud that are designed to change how everyday objects work.
The company is hiring in D.C., San Francisco, and Minneapolis.

FinSMEs

12/11/2013

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