SmartThings gets $12.5M funding boost


Ted Burnham November 12, 2013
SmartThings gets $12.5M funding boost SmartThings
Press Release


SmartThings, creator of a hub for connecting your home, today announced $12.5 million in new Series A funding. The money comes from Greylock Partners and Highland Capital Partners, who will each add a representative to SmartThings’ board of directors.

 

The investment comes after SmartThings’ $1.2 million Kickstarter campaign and $3 million seed round in late 2012. The new round will finance ongoing product development and expanded distribution. Starter kits are currently sold directly through the company’s website and on Amazon's Home Automation section.

 

SmartThings will also benefit from the expertise of its new board members. Josh Elman of Greylock will help improve the customer experience, while Highland’s Manish Patel will contribute to the technical side improving support for developers and device makers.

 

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Related: Connected home sensor systems, IoT and crowdfunding




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