What is SmartThings?
SmartThings is at the forefront of simplifying home automation, offering users enhanced peace of mind, cost savings, and convenience through its open smart home platform. The company's strategy hinges on fostering a robust ecosystem that provides consumers with extensive freedom of choice in device selection and unlocks a vast array of possibilities for home connectivity. Headquartered in Mountain View, California, SmartThings operates as an independent, wholly-owned subsidiary of Samsung Electronics, leveraging the global reach and technological prowess of its parent company while maintaining its innovative edge in the Internet of Things (IoT) market.
How much funding has SmartThings raised?
SmartThings has raised a total of $15.5M across 2 funding rounds:
Angel/Seed
$3M
Series A
$12.5M
Angel/Seed (2012): $3M with participation from A-Grade Investments, Lerer Ventures, SV Angel, and First Round Capital
Series A (2013): $12.5M led by Highland Capital Partners and Greylock Partners
Key Investors in SmartThings
Highland Capital Partners
Highland Capital Partners is a venture capital firm that focuses on investing in entrepreneurs and innovative startups. With a track record of 200 exits, over 50 IPOs, and 40 unicorns, the firm manages $7 billion in assets under management. Their primary clients include entrepreneurs seeking funding and support to grow their businesses. The firm emphasizes a long-term partnership approach to help startups achieve their goals.
Greylock Partners
83North is a global venture capital firm managing over $2.2 billion, investing in exceptional entrepreneurs at all stages to build category-leading companies. The firm has a strong portfolio with 90 companies and 15 unicorns, reflecting its successful investment strategy. With a focus on innovation, 83North supports a diverse range of industries, including technology and supply chain management. Their philosophy emphasizes a unique approach to helping companies scale effectively.
A-Grade Investments
A-Grade Investments is a venture capital firm. It invests in consumer-based internet and technology companies. The firm was founded in 2010 and is headquartered in Los Angeles, California.
What's next for SmartThings?
The recent major strategic investment signals a new phase of accelerated development and market penetration for SmartThings. This capital infusion is expected to fuel further innovation in its open platform, expand its device ecosystem, and enhance its competitive position against other smart home solutions. As a key player in the burgeoning IoT landscape, SmartThings is poised to capitalize on the increasing consumer demand for integrated and intelligent home environments, potentially leading to further strategic partnerships and market consolidation within the enterprise-level funding sphere.
See full SmartThings company page
