LockState Secures $5.8 Million In Series A Round Of Funding

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LockState, the parent company of RemoteLock cloud platform for smart locks, announced it raised $5.8 million in a Series A round of funding, led by Iron Gate Capital in Boulder and joined by Kozo Keikaku Engineering Inc. (KKE) in Japan, Nelnet, and Service Provider Capital.

RemoteLock is the leading cloud-based smart lock platform enabling users to manage any type of internet-enabled lock from a single centralized dashboard.

The platform offers a suite of products for remote access control, including apps used by managers of vacation rental properties, retail stores, commercial space and apartments to simplify access and strengthen security.

Through integrations with Airbnb, HomeAway and other listing partners, RemoteLock apps automate guest access when bookings are confirmed. The platform allows users to manage access control more efficiently, across multiple different types of connected locks for main entryways, internal units, elevators, parking garages, and pool gates. Additionally, RemoteLock offers an open API, enabling integrators to quickly and easily incorporate monitoring and control of smart locks into their own applications.

“We are excited to expand usage of the first-of-its-kind smart lock cloud platform,” said Nolan Mondrow, Founder and CEO of LockState.

“This latest funding will support our aggressive sales and marketing plans, and allow us to further solidify our market leading product. We’re looking to expand our partner opportunities in emerging areas like blockchain, and the growth in cloud based physical access control overall.”

RemoteLock serves tens of thousands of rental and commercial properties today and has established partnerships with Airbnb, HomeAway, Ayla, August Home, Mercury Security, KKE, Streamline, Guesty and many more. Customers include global and national companies like Target Stores, Love’s Travel Stops, Coldwell Bankers Vacations, Century 21, Quiznos, and Ring.

“LockState is enabling the smart building where it matters most – not thermostats or lighting, but in access control,” said Ryan Pollock, Managing Partner at Iron Gate Capital. “Building an enterprise class solution that is agnostic to the many lock architectures and brands out there is challenging, and we are excited to partner with the leader in the category.”

RemoteLock has been at the forefront of internet-connected devices and cloud access control solutions for rental properties and businesses for over seven years, servicing tens of thousands of customers worldwide.

Source: remotelock.com
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Home Forums LockState Secures $5.8 Million In Series A Round Of Funding

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