Home Automation Startup August Raises $8 Million From Maveron To Make Smart Locks Mainstream | TechCrunch
Summary
The new round brings total funding raised to $10 million, and previous investors include Matt Mullenweg, Mark Pincus, David Dolby, and Scott Belsky, among others. Bringing Maveron on board makes sense, as the VC firm focuses exclusively on consumer-facing companies, with other investments such as eBay, Zulily, Groupon, and Shutterfly. Wu, who joined Maveron in 2012, had personally invested in companies like Practice Fusion, Sociable Labs, Postmates, Beautylish, and Taulia, and sites on the board of Line2 and SeatMe. The lock, which was designed by Yves Behar, enables homeowners and renters to access their homes or send virtual keys to others via mobile app. While the company isn’t ready to announce who its sales partners will be — that’ll come later — Johnson said Nest had done a good job of managing its retail strategy, by making its thermostat first available in tech and consumer electronics outlets, before then moving on to large home improvement stores and then mass market big box retailers.
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