August Raises $38 Million To Expand Smart Lock Retail Availability

TechCrunch

Smart Lock purveyor August has raised another $38 million in funding, bringing the company’s tally up to $50 million, the company’s co-founder Jason Johnson told TechCrunch. August’s Smart Lock attempts to reinvent the front door and rid the world of physical keys by relegating that duty to a smartphone. As Johnson noted, “Hardware is expensive,” however the new cash will not be used only to make hardware, but to sell it, too.

The company’s first product launched in the Apple Store in late 2014. “We had a wonderful fourth quarter and a great first quarter of [2015],” Johnson said. Yet the August Smart Lock is only available from the Apple Store, Amazon and the company’s website. But that’s about to change.

In the near future Johnson says the Smart Lock will be available in more consumer electronic and home improvement stores, but Johnson wouldn’t say which.

Bessemer Venture Partners led…

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