Latch says storing records is a requirement to be in large buildings because owners want to be able to know who was around should an incident arise. That includes storing logs of when each key is used on each door - so a building owner, theoretically, would know when you're coming and going from your apartment.
Padlock latch for door series#
Schoenfelder says Latch will be making its list of partners public sometime in the next month or so it also intends to begin its first installations around then, too.īuilding owners can see all comings and goingsīecause Latch's customer is building owners, not consumers, its locks have a series of features that privacy-conscious renters may not love. Both are in New York: a four-unit building in the East Village and a 431-unit luxury building in Chelsea. What Latch has detailed so far are two of the first buildings to be outfitted with its locks.
Latch isn't announcing who those real estate partners are, but Schoenfelder says they own "1.5 million doors" between them, largely in the US. Two New York buildings will be the first with Latch locks Many are investing so they have early access rights to purchase it." "We know the product is gonna work because they've given us multi-millions of dollars so they can go and buy it. "We've built the whole company in partnership with some of the largest real estate partners from day one," says Luke Schoenfelder, Latch's CEO and one of its three co-founders. Getting big deals to make that happen is going to be a huge hurdle for adoption, but Latch says it's confident the deals will come. Latch is selling directly to real estate companies, largely, it sounds, for placement in luxury apartment buildings, as well as some offices and other commercial spaces like gyms. And there are zero of those at the moment. No one can go out and buy their own Latch lock - for the near future, at least, you'll have to move into an apartment building that has one. Latch's lock also includes a hidden camera, which will photograph guests when they're at the door. That way keys can't be lost and buildings don't have to change the locks when someone moves out. Latch sees the passcode as its lock's primary method of entry it doesn't even recommend that buildings give keys out to their tenants unless somebody really wants one. It can be unlocked by either a key, a passcode, or a smartphone and allows for temporary codes to be issued to guests. Latch's first product is a sleek, high-tech door lock (also called Latch) that's designed to be something both renters and real estate companies can love. "We are building a product for longevity." The company is called Latch, and it's raised $16 million - including $10.5 million being announced today - to make that happen. But in the future, that may not be a problem: a new company wants to see that apartment door locks are smart in the first place.
Padlock latch for door install#
If you rent an apartment, you probably don't have a choice in what your door lock looks like - so even if you wanted a smart lock, you wouldn't have permission to install one.
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