Latch, a New York City-based universal smart access system that works for enterprise, consumer, and hospitality users, emerged from stealth and raised $10.5m Series A round of funding.
The round was led by Lux Capital, with participation from Primary Venture Partners, Corigin Venture Partners, Camber Creek, Expansion Ventures, PCH, and Wan Li Zhu of Fairhaven Capital, with additional investments from a group of large strategic real estate funds.
The company has raised $16m in total funding.
Founded in 2014 by CEO Luke Schoenfelder, CTO Brian Jones and CDO Thomas Meyerhoffer, Latch is a modular lock that is built to work across contexts, from office buildings to homes and apartments, and allows access for the people, packages, and services that users select to invite into their space.
The locks grant users access through a touch keypad, Bluetooth technology, Touch ID, and traditional keys.