Latch
Smart lock company
- 201-500 employees
- B2C
- Property
- B2B
- Security
- Internet of Things
- Creve Coeur Township, Olivette, MO
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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 and refreshing of its leadership, the company is now aiming for profitability and cautious growth instead of rapid expansion.
Steph
Company Specialist at Welcome to the Jungle
Leadership
David Lillis
(CEO)Previously SVP of Finance at Latch, was the CFO for RubinBrownLLP and Mastercard and was the VIce President of WellsFargo.