# SmartThings

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/smartthings

- Industry: Software
- Headquarters: Washington, US
- Website: www.smartthings.com
- Total disclosed funding: $16M
- Latest round: Series A (Nov 12, 2013)
- Investors on record: 8

## About

SmartThings is a technology company that specializes in creating smart home solutions, enabling seamless integration and control of various devices to enhance home automation and connectivity for consumers.Founded in 2012 and headquartered in Washington, US, SmartThings operates at the forefront of smart home technology. The company was acquired by Samsung Electronics Company, Limited in August 2014 for approximately USD 200.00 mn, expanding its impact in the home automation sector. No significant pivots in business strategy or additional subsidiaries have been noted.Samsung's SmartThings platform serves as the cornerstone of its smart home ecosystem, integrating a diverse array of products designed to enhance home automation and connectivity. The core offerings include smart appliances, home entertainment systems, and smart devices such as TVs, refrigerators, and robotic vacuum cleaners, all operating under the SmartThings hub. Users can monitor and control their home environments through a unified interface on their smartphones, with AI capabilities optimizing energy usage, enhancing comfort, and streamlining tasks. SmartThings products are marketed primarily in North America, Europe, and select regions in Asia, catering to tech-savvy consumers and families.SmartThings generates revenue through direct-to-consumer sales and partnerships with retailers and wholesalers. Its business model includes both one-time purchases for individual smart devices and subscription services for enhanced functionalities. Flagship products, including the Galaxy Z smartphones and Galaxy Watch series, integrate seamlessly with SmartThings, offering users a cohesive experience. The pricing of smart appliances reflects their advanced features, and revenue is further boosted by ongoing promotions and product bundles that encourage consumers to adopt multiple products.In the coming years, SmartThings plans to launch new smart home products that capitalize on ongoing advancements in technology. The company is targeting expansion into new markets, particularly in Asia and South America, by 2025. The recent acquisition by Samsung, with a deal completed in August 2014, provides significant resources to support these initiatives, enabling SmartThings to enhance its product offerings and market presence.

## Funding rounds

- Series A, Nov 12, 2013, $13M — Highland Capital Partners, Greylock Partners, First Round Capital
- Seed, Dec 4, 2012, $3M — First Round Capital, SV Angel, Lerer Hippeau Ventures, Tuesday Capital, Start Fund, Sound Ventures

## Investors

- First Round Capital (https://capitalatlas.ai/funds/first-round-capital) — Seed, Series A
- SV Angel (https://capitalatlas.ai/funds/sv-angel) — Seed
- Lerer Hippeau Ventures — Seed
- Tuesday Capital (https://capitalatlas.ai/funds/tuesday-capital) — Seed
- Start Fund — Seed
- Sound Ventures (https://capitalatlas.ai/funds/sound-ventures) — Seed
- Highland Capital Partners (https://capitalatlas.ai/funds/highland-capital-partners) — Series A
- Greylock Partners (https://capitalatlas.ai/funds/greylock-partners) — Series A