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August Raises $38 Million in Series B Funding
Mar 24, 2015
Over the past two years, the August team has worked to deliver one of the most secure, intelligent ways to manage access to your home with August Smart Lock and Connect. Today, we are excited to announce that August has raised $38 million in Series B funding, which the team will use to launch new home access products, expand further into retail markets, and grow our San Francisco based team. With this new financing, August will define a new product category in the smart home, aiming to solve what we call the ‘last five foot problem.’ There has always been talk of the ‘last mile problem’ of bringing trusted services into the home. With our smart lock, mobile apps, and cloud-based access control, we offer homeowners, property managers, and guests a sophisticated and trusted way to control home access, bridging the gap between service providers and homeowners. The round was led by Bessemer Venture Partners, with participation from Comcast Ventures and Qualcomm Incorporated, through its investment arm, Qualcomm Ventures. This brings our total funding to $50 million, which includes Series B participation from previous investors Maveron, Cowboy Ventures, Industry Ventures, Rho Ventures, and SoftTech VC. Additional investors participating in this round also include CAA Ventures, Center Electric Ventures, Dolby Family Ventures, Global Brain, KDDI, Rothenberg Ventures, SanDisk Ventures, Singtel Innov8 and Winklevoss Capital. We are also excited to welcome Rob Stavis from Bessemer Venture Partners to join August’s Board of Directors. Rob joined Bessemer in 2000 and is focused on investments in the financial services sector and in emerging software technologies. With his past experience in consumer software and mobile development, Rob will be an important resource as we look to build and define new home access products. To stay up to date on the most recent news and product announcements, sign up for August’s email list on August.com. For the full press release click here.