August Home Secures $25 Million in Series C Funding
August Home Inc., a provider of smart locks and smart home access products and services, announced it raised $25 million in Series C funding.
The round included August Home’s existing investors — Bessemer Venture Partners, Comcast Ventures, Maveron and Qualcomm Ventures — and includes new investors progressive, competitive energy retailer, AGL, Liberty Mutual and European private equity fund, SPDG. This brings the company’s total funding to $75 million.
Since the company’s Series B financing in 2015, August introduced four new products and developed partnerships with companies including Airbnb, Amazon, Apple, Google, HomeAway and Nest. These developments helped advance the company’s mission to help people control access to their homes, enabling secure delivery of goods and services inside the home. In doing so, August Home reports that it has has become the best-selling smart lock and increased lock sales by 300 percent year-over-year with more than 260 million lock operations and 500,000 users.
The new round of funding will be used to expand operations and extend the company’s products and services.
“I am incredibly proud of the work that we have done to establish the August Smart Lock as the category leader and partner to like-minded category disruptors that are using technology to bring innovation to the home,” said Jason Johnson, CEO of August Home. “This investment will allow us to capitalize on the opportunity ahead of us — to bring quality products and secure in-home delivery to the masses.”