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§ Private Profile · 1220 North Price Road Suite 2 St. Louis, Missouri 63132 United States
Latch is a technology company.
Latch offers an integrated ecosystem of hardware, software, and services for multifamily properties. It delivers smart access solutions, combining physical devices like smart locks with software platforms and automated building intelligence. This system streamlines property operations and enhances resident experience, providing a unified platform for access control, automation, and management.
Latch was founded by Luke Schoenfelder, Brian Jones, and Brenden Hewko. Initially named Latchable Inc., the company stemmed from recognizing inefficient traditional access in modern apartment buildings. The founders saw an opportunity to modernize how residents and property managers interact with building entry and operational systems.
Latch serves real estate developers, building owners, and property managers, aiming to foster smarter, more interconnected environments. Its vision redefines building operations by unifying access, automation, and comprehensive building intelligence into one platform. Latch empowers stakeholders for efficiently managed multifamily spaces.
Latch has raised $100.0M across 5 funding rounds.
Latch has raised $100.0M in total across 5 funding rounds.
Latch has raised $100.0M in total across 5 funding rounds.
Latch's investors include Josh Raffaelli, 305 Ventures, 8-Bit Capital, Ambridge Capital, Andreessen Horowitz, Battery Ventures, BoxGroup, C2 Investment, Coelius Capital, Conviction Partners, Digital Currency Group, Eclipse Ventures.
Latch has raised $100.0M across 5 funding rounds. Most recently, it raised $70.0M Series B in August 2018.
# Latch: Smart Access Control for Modern Buildings
Latch is a PropTech company that builds integrated smart access and building operating systems for multifamily residential properties.[1][4] Founded in 2013 and headquartered in New York, the company designs and manufactures hardware (smart locks, intercoms, access devices) alongside cloud-based software (LatchOS) to create a unified ecosystem for building management.[2][3] Latch serves property owners, developers, and building managers seeking to modernize access control, enhance security, and improve resident experience through keyless entry, remote access management, and integrated building operations.[2]
The company has achieved significant market penetration: more than 1 in 10 new apartments in the U.S. are being built with Latch products, with installations across 36 states supporting over two million unlocks per month.[4] Latch operates on a dual revenue model combining hardware sales with recurring subscription revenue from property managers and residents accessing its cloud-based platform.[3]
Latch was founded in 2013 (initially as Latchable Inc.) to solve a fundamental problem in modern apartment buildings: seamless and secure access control.[2] The company achieved an early milestone in 2016 with its Series A funding round, raising $10 million to expand product development and market reach.[2] The pivotal moment came in 2017 with the launch of Latch M, the company's first complete smart access system designed for entire buildings—a product that demonstrated the viability of their integrated hardware-software approach and set the stage for broader market adoption.[2]
The company went public through a reverse merger and IPO, raising a total of $147.4 million to date.[1] This capital enabled Latch to scale operations and establish itself as a leader in the PropTech sector.
Latch is riding the smart building and PropTech wave, capitalizing on the global smart lock market's projected growth from $1.64 billion in 2021 to $4.63 billion by 2026.[3] The timing is favorable: new apartment construction increasingly demands modern amenities, regulatory pressure for enhanced security is rising, and residents expect smartphone-based convenience.
The company influences the broader ecosystem by establishing the integrated building operating system as the standard rather than fragmented point solutions. By controlling both hardware and software, Latch sets architectural standards that competitors must match, creating switching costs and network effects. The company's dominance in new construction also shapes developer expectations and resident preferences, effectively defining what "modern" building access means.
Latch stands at an inflection point. Its market leadership in new multifamily construction provides a strong foundation, but the company faces the challenge of converting this hardware installed base into sustained software revenue and expanding beyond access control into broader building intelligence and automation.
The trajectory suggests three key developments: (1) deepening software monetization through expanded LatchOS features and services, (2) market consolidation as competitors struggle to match Latch's integrated approach, and (3) expansion into adjacent building systems (energy management, package delivery, visitor management) to become the true operating system for modern properties.
As buildings increasingly become connected, data-driven assets, Latch's position as the foundational access and intelligence layer positions it to capture significant value in the broader smart building economy. The company's influence will likely extend beyond access control to shape how property managers, residents, and developers think about building operations entirely.