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Latch
Smart lock company
- 101-200 employees
- B2C
- Property
- B2B
- Security
- Internet of Things
- Chelsea, New York, NY
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Company mission
To deliver a full-building operating system designed to help owners, residents, and third parties like guests, couriers, and service providers seamlessly experience the modern building.
-48% employee growth in 12 months
Our take
Latch specializes in keyless entry security systems enabling property owners to operate every door to their properties from a smartphone. In addition to its core business, the company also provides software that enables the remote monitoring and operation of services inside a building, like lighting, heating and air conditioning.
The business saw rapid growth across the US, as it has partnered with some of the largest real estate developers and property managers in the country, like Alliance and AMLI. Today, one in ten new apartments in the US are built using Latch's technology. The company has also announced its expansion into commercial office space with the launch of LatchOS for offices.
Latch went public in 2021 at a valuation of about $1.5 billion, but has since suffered setbacks due to its rapid growth just before a market downturn which affected both the tech and property sectors where Latch operates. Having conducted a large scale restructuring in response, the company is now aiming for profitability and cautious growth instead of rapid expansion.
Steph
Company Specialist at Welcome to the Jungle
Company values
- Contagious Determination: We pursue excellence. Our ability to persevere together allows us to go beyond expectations
- Humility: We believe in the strength of team over self. We embody empathy and respect. When disagreements arise, we communicate and commit
- Trust: Trust is the foundation of every strong relationship. We act and communicate with honesty and care
- Inclusion: We believe in the power of a diverse team. We embrace everyone’s differences and strive to create safe and welcoming spaces for all
- Action with Intent: We have a vision for a better future and a desire to lead the way. We learn as we go and are unafraid of taking deliberate risks while remaining flexible to reach our goals
- Privacy: We believe everyone’s privacy is sacrosanct. We base each decision on our commitment to protect all information shared with us
Leadership
Brian Jones
(CTO)Studied at Rochester Institute of Technology. They were a Quality Engineer at Brinkman Precision. Became a Hardware Lead at GridPotential.
Thomas Meyerhoffer
(CDO)They were a Designer at IDEO. They worked as Senior Designer at Apple for 3 years. They are an Investor and Advisor to Syng, and have owned Meyerhoffer for the past 22 years.