DOOR, formerly Latch, specialises 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 is built using DOOR's technology. The company has also announced its expansion into commercial office space with the launch of DOOR OS for offices.
DOOR 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 DOOR operates. Having conducted a large-scale restructuring and rebrand in response, as well as a leadership refresh, the company is refocusing on profitability instead of rapid expansion. It has also expanded its mission to tackle building operations and automation, as well as access.
Steph
Company Specialist at Welcome to the Jungle
