Gate Labs, a San Francisco, CA-based manufacturer of a camera equipped smart lock, closed a $5m Series-B equity funding.
The round was led by Cota Capital.
In conjunction with the capital investment, the company has appointed Engle Saez, who has been chief operating officer at Gate Labs since November 2016, as its new CEO. He succeeds Gate founder, Ehsan Saeedi, who will assume the new position of chief product officer.
Before joining Gate Labs, Mr. Saez was President and Chief Digital officer of Ashford.com, a New York City based retailer of luxury watches and accessories. Prior to that, he held executive leadership roles with respected brands, including president of Sperry Top-Sider, SVP of marketing at Starbucks Coffee Company, CMO at Blue Nile and CMO at Eddie Bauer.
Co-founded by Saeedi, Harvey Ho and Danial Ehyaei, Gate Labs has created the GATE smart lock, which enables users to stream live video and audio of all activity outside the home as well as inside the home. GATE is designed to fit any door that uses a standard deadbolt and can be installed in minutes with just two screws, no additional tools or accessories required. The device connects directly to the home’s Wi-Fi network and can send live video to mobile devices over Wi-Fi and 4G networks.