Funding

August, the smart lock purveyor Raises $38 Million

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What does August do?

August, creates technology which allows physical environments to respond seamlessly to user’s behavior.  It builds products which make life simple, allowing the physical environments to seamlessly respond to the user behavior. Its product, August Smart Lock, is a new lock and access system which allows users to send a virtual key to anyone they choose to access their home to.

August was founded by entrepreneur and designer Yves Behar and consumer technology veteran Jason Johnson. It has its headquarters in San Francisco, California.

How much August was funded?

August raised $38 M in Series B funding on March 25th, 2015 from Comcast Ventures, Qualcomm Ventures and Bessemer Venture Partners.

Previous funding

  • $2M in Undisclosed round in 2013 from Philip Kaplan, SoftTech VC, Cowboy Ventures, David Spector, Jay Adelson and Mike Marquez
  • $8M in Series A funding on Nov 19th, 2013 from Center Electric, QueensBridge Venture Partners, Dolby Family Ventures, CAA Ventures, SoftTech VC and Rho Ventures

What is next for August?

Smart Lock is trying front door reinvention and get rid of the regular keys we all use to unlock the door by transferring that ability to the person’s smart phone. The new funding will be used to make the hardware and also for selling the hardware.

 

August’s co-founder said that for now it is only available for iOS, Amazon and the August’s website and this he plans to change. He said that it will soon be available in more  home improvement  and electronic stores. With the latest round of funding led by Bessemer Venture Partners, Rob Stavis  is going to join August’s  board of directors as a part of the deal.

More about August

August was found on November 29th, 2012 by Jason Johnson, Yves Behar. The company creates technology which allows physical environments to respond to the behavior of the user seamlessly.

Its technology provides a new level of safety to your home.  It’s encrypted locking technology is safer than your keys which can get lost and codes which can be copied. You can control who has access to your home, check the log records of who entered and who exited your home.