Major Players Invest in SmartRent Series B Round

UDR, Inc., Essex Property Trust and Starwood Capital were among the investors to invest in the automation company’s Series B funding round.

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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