Greylock Partners and Highland Capital back SmartThings

SmartThings said Tuesday that it has received $12.5 million in a Series A funding. Greylock Partners and Highland Capital Partners were the investors. According to the company, the capital will be used for product enhancements and distribution expansion. Headquartered in Washington, D.C., SmartThings is a provider of a platform that connects the internet to everyday items. In addition to Greylock and Highland, SmartThings’ backers include First Round Capital, SV Angel, Lerer Ventures, A-Grade and CrunchFund.

PRESS RELEASE

Washington, D.C.—November 12, 2013 — SmartThings, the open platform for the Internet of Things, announced today that it has raised $12.5 million in a Series A round of funding from Greylock Partners and Highland Capital Partners, bringing the company’s total venture funding to $15.5 million. SmartThings will leverage the new round of funding to continue enhancing its products and to further expand distribution.
SmartThings’ Starter Kits enable customers to make homes secure, smart and fun with a simple mobile application that controls an open system of connected devices. With SmartThings, users can add a layer of security and additional insurance to their homes – whether that be notifications about unexpected motion while they’re away, alerts about the risk of water damage and extreme temperatures, or the security of the garage door closing behind them when they leave. SmartThings creates a more intuitive home experience where lighting, climate and more automatically respond to customers’ preferences and moods.
“SmartThings is the most simple, elegant and affordable way for you to stay connected with and control your home from anywhere in the world,” said Alex Hawkinson, CEO and co-founder, SmartThings. “Greylock and Highland share our vision for a connected world and are important partners as we look to enhance our products and broaden distribution.”
Greylock partner Josh Elman and Highland partner Manish Patel will join the SmartThings board of directors. With his strong focus on mobile and consumer products, Elman will play a key role in helping to guide the SmartThings consumer experience as it rolls out to the broader market. Patel, with his extensive background in connected hardware and developer platforms, will help SmartThings expand support for its growing ecosystem of developers and device makers.
“With the amount of time and money we spend in and on our homes, it seems crazy that we can’t interact with our homes in any kind of intelligent and connected way,” said Elman. “Alex and his team are building the solution to fix this, and bring the automated home to life. Their experience delights customers and makes life simpler and safer for everyone. We’re looking forward to working with the team to build out the SmartThings platform and perfect the customer experience.”
“SmartThings is taking a unique approach to a new era in human-machine interaction that merges the physical and digital worlds,” said Patel. “The power of the Internet of Things lies in having as many connection points across as many verticals as possible. Highland is thrilled to partner with SmartThings in its mission of creating a more connected, smarter world through its open platform.”
To purchase a SmartThings Kit please visit Shop.SmartThings.com or Amazon.com.
About SmartThings
SmartThings is building the open platform for the Internet of Things. It enables consumers to easily install connected devices and control them through a single mobile app that makes their homes smarter, more reactive and more enjoyable. SmartThings supports an open and growing ecosystem of over 3,000 inventors and developers producing new types of connected devices and unique apps in the cloud that change how everyday objects work. SmartThings has raised $15.5M in venture capital to date from Greylock Partners, Highland Capital Partners, First Round Capital, SV Angel, Lerer Ventures, Max Levchin, Start Fund by Yuri Milner, A-Grade, David Tisch, CrunchFund, and others. SmartThings is headquartered in Washington, D.C. and is hiring in D.C., San Francisco, and Minneapolis. To purchase a SmartThings kit, visit Shop.SmartThings.com or Amazon.com.

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