Automation company SmartRent has raised $32 million in its Series B funding round. Bain Capital Ventures led the round with additional investment from RET Ventures, UDR, Inc., Essex Property Trust and Starwood Capital.

SmartRent will use the capital to invest in additional development resources and optimize its ability to perform rapid, large-scale deployments. This will also help retain the firm's already solid market position.

SmartRent has more than 40,000 units currently installed and 66,000 additional units under agreement for 2019. That is a 145% year-over-year increase.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.