What is SmartThings?
SmartThings operates as a premier open platform designed to facilitate the seamless integration of smart home devices, providing users with enhanced convenience, energy savings, and security. Headquartered in Mountain View, California, the company functions as an independent, wholly-owned subsidiary of Samsung Electronics. Its market position is defined by its commitment to an open ecosystem, which allows for interoperability across a vast array of third-party hardware, thereby offering consumers unparalleled flexibility in building their personalized smart home environments.
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 Lerer Ventures, A-Grade Investments, SV Angel, and First Round Capital
Series A (2013): $12.5M led by Greylock Partners and Highland Capital Partners
Key Investors in SmartThings
Greylock Partners
A global venture capital firm managing over $2.2 billion, investing in exceptional entrepreneurs at all stages to build category-leading companies.
Highland Capital Partners
A venture capital firm with a track record of 200 exits and 50 IPOs, focusing on long-term partnerships to help startups achieve significant scale.
SV Angel
A long-term investment firm dedicated to supporting founders by providing essential resources, strategic insights, and a vast network to help companies scale.
What's next for SmartThings?
With the backing of major enterprise-level funding, SmartThings is well-positioned to deepen its integration within the broader Samsung product suite while continuing to foster its open-platform philosophy. Future strategic initiatives are expected to focus on enhancing user experience through advanced automation protocols and expanding the ecosystem's compatibility with emerging IoT standards. As the smart home market matures, the company's ability to maintain its independent operational agility while benefiting from the resources of a global electronics conglomerate will be a key determinant of its long-term market dominance and sustained growth trajectory.
See full SmartThings company page
