August Home, Inc.

August Home, Inc. develops innovative smart lock solutions that enhance home security and access control through keyless entry technology, catering to both homeowners and property managers. August Home, Inc. specializes in smart lock technology, providing intelligent access systems for residential properties.

Founded in 2012 and headquartered in San Francisco, US, the company was established by Yves Behar, who has a history of founding other companies. August Home has secured a total of USD 25. 00 mn in funding, with its latest round being a Series C that closed on October 19, 2017, involving investors such as AGL Energy Ltd. and Bessemer Venture Partners.

The company has completed 9 deals to date, contributing to its current valuation of USD 165. 08 mn. August Home specializes in smart lock technology, focusing on providing keyless entry systems designed for convenience and enhanced security. Their core offerings include a range of smart locks that seamlessly integrate with existing deadbolts, allowing users to maintain traditional key access while enjoying the features of smart technology.

The locks are equipped with capabilities such as auto-unlock and compatibility with various smart home systems, including voice assistants and home automation platforms like Samsung SmartThings and Philips Hue. The company primarily serves homeowners, renters, and vacation rental hosts, addressing common entry challenges faced by families, property managers, and individuals who often misplace keys. August Home products are marketed primarily in the United States and Canada, catering to a diverse customer base looking for innovative and secure home access solutions. August Home generates revenue through direct-to-consumer sales of its smart lock systems and associated accessories, including the Wi-Fi Smart Lock, Yale Approach Lock, and various bundles that enhance the smart home experience.

The company offers products at various price points, with flagship items starting at USD 129. 99 and going up to USD 199. 99 for premium smart locks, alongside accessories such as the Connect Wi-Fi Bridge priced at USD 79. 99.

Their transaction structure is primarily B2C, with customers purchasing products directly from the August Home website or through partnered retail channels. This model allows for a streamlined purchasing experience, facilitating customer access to their suite of smart home products, which are designed to meet specific security needs while enhancing overall convenience. In October 2017, August Home was acquired by ASSA ABLOY AB, aiming to strengthen its residential smart door strategy with smart locks, video doorbells, and home delivery solutions. With this acquisition, August Home is expected to leverage ASSA ABLOY's resources to design and launch new smart lock products that will enhance user experience and security.

The plans for future growth include expanding into international markets, particularly targeting Europe and Asia by 2025, utilizing the recent funding to support these initiatives and enhance product development.