What is SmartThings?
SmartThings is dedicated to simplifying home automation, offering users enhanced peace of mind, cost savings, and convenience through its smart home solutions. Operating as an independent, wholly-owned subsidiary of Samsung Electronics, SmartThings is headquartered in Mountain View, California. The company champions an open platform approach, fostering a robust ecosystem that provides consumers with extensive freedom of choice in smart devices and unlocks a vast array of possibilities for home connectivity and control.
How much funding has SmartThings raised?
SmartThings has raised a total of $15.5M across 2 funding rounds:
Angel/Seed
$3M
Series A
$12.5M
Angel/Seed (2012): $3M with participation from Lerer Ventures, SV Angel, A-Grade Investments, and First Round Capital
Series A (2013): $12.5M led by Greylock Partners and Highland Capital Partners
Key Investors in SmartThings
Greylock Partners
Greylock Partners is a venture capital firm that invests in early-stage technology companies. They are known for their deep operational expertise and focus on helping founders build category-defining businesses.
Lerer Ventures
Lerer Ventures is an early-stage venture capital firm that invests in consumer internet and technology companies. They focus on supporting founders with innovative ideas and strong execution capabilities.
SV Angel
SV Angel is a venture capital firm that provides long-term investment and support to technology startups. They are known for their founder-friendly approach and commitment to helping companies scale.
What's next for SmartThings?
With its recent major strategic investment and a history of substantial capital raises, SmartThings is well-positioned for its next phase of growth. The company's focus on an open, thriving ecosystem suggests a strategy centered on broad device compatibility and user-centric innovation. Future developments are likely to involve expanding its smart home capabilities, enhancing interoperability across various brands, and potentially integrating deeper into Samsung's broader product lines. This strategic financing will likely support continued research and development, market penetration, and the cultivation of its developer community, solidifying its role as a key player in the smart home industry.
See full SmartThings company page
