SmartRent, which provides smart home automation for property owners, managers, developers and residents, announced today that it has raised 60 million dollars. CEO Lucas Haldeman said the funding will enable the company’s next phase of growth as it expanded its portfolio of services.
According to Statista, the revenue from the smart home market is expected to climb 18. 3%from 2020 to 2023, resulting in a market volume of $ 41 billion dollars in the next three years. But appliances, lighting fixtures, security cameras are often not user friendly, it has threatened to obstruct the pass. A survey conducted by TechSee found that nearly 74% of respondents are”certain”or”very likely”to return a new smart home purchase, if they find it difficult to install.
SmartRent promises to take the pain out of installing a fully managed services approach. The company, the company introduced the multi-family apartments space and a platform for a single family rental, expanding to more than 25,000 homes across 15 different countries between 2014 and 2016. In early 2017, it restarts a”more attention”on the many communities, and supports dual ownership, one of the residents directly control devices, such as smart locks, thermostats and sensors, but a property management monitoring system and supplies the credentials.
SmartRent’s flagship product is the alloy access, a cloud-based access control system that allows property managers to simplify into and out of the process. There is no need to collect the card or key—former residents and staff members are automatically removed from the system once their contract, employment or the lease ends.
Alloy connected to the support card of the customers choice to use them, as well as the key and the PIN code and the mobile certificate. These credentials can be added to a mobile application or revocation, the supervisor receives notification from the same app when doors are propped open or visitors arrive.
With SmartRent, the customer can switch between the community management of the special units and work orders. They are able to create, distribution and management of unit rentals and unit-related work from the application and integration of platform with existing software, such as Yardi,RealPage,no title,ResMan; single den portals like oak towers; and the access control system and hardware such as Brivo or go into hiding.
In addition, the automatic move in/out, SmartRent can handle the vacant unit management and automatic time synchronization, as well as tasks such as reporting and analysis.
SmartRent engineering and property management of the inspection sector and the public area of the access point, as well as electrical, water and network infrastructure. According to the local municipal law, geography and property type, SmartRent channel partners to design the equipment package managers of choice. SmartRent staff in the field of installation select the hardware and the implementation of the platform, Activate, provide training and assistance to staff and residents.
Residents get features such as climate control, Keyless access, pre-scene procedures, and monitoring(energy and usage), to provide the device from Yale, Honeywell, Nest, Amazon, US,Aeotec and other popular manufacturers. SmartRent platform is a fully compatible assistant like Amazon’s Alexa and Google Assistant. In the future the lessee of the surface, which allows managers to provide self-guided tour of the collected information, such as contact and identification(i.e., a driver’s license)at the same time provide a high-level overview of the unit, covering something equivalent, and bathroom count, amenities, and Ada-accessible features.
-Haldeman noted that the pandemic appeared to meet in a non-contact type of experience like SmartRent the self-guided tour function. In the payment arena, for example, the MasterCard study showed that 79%of consumers use the contactless payment, a reference to the security and cleaning of the critical drivers of adoption.
SmartRent say, it encrypts the connection, use a password, and to keep current on security events patch software need. The company also claims that it walls off certain device usage data(e.g., locks and air conditioning status)from the property managers, in addition to things like leakage monitoring, security and other cameras and broken glass sensors. However, SmartRent admit that it may disclose the data need to”investigate, prevent, or take action”related to”illegal activities, suspected fraud, (a case)involving potential threats to the safety of any person,”or in legal proceedings. It also says it shares personal information for advertising and Analytics providers and may provide the”summary and determination”of the data with the owners and others”research purposes.”
SmartRent competitors of the company, such as Zego, as well as home builders, including Lennar and Real Estate Investment Trust Fund temporary. But-Haldeman said, the demand is on the rise, with 600% SmartRent customers in 2019 to expand their use of the platform for the new units.
Spark Capital led this latest round of funding round, with participation from the five Wall-owned enterprises, energy-impacted businesses, Amazon Alexa the Fund of Bain Capital Ventures, and RET enterprises. It brings a Scottsdale, Arizona-based SmartRent of the total amount raised to more than $ 100 million, following a $ 32 million Series B January 2019.
Next to funding, SmartRent hire Darian Shannon as its new CFO and CJ Edmonds served as a revenue officer.