RemoteLock secures $17.8m in Series B funding

US: RemoteLock, a provider of cloud-based access control and smart lock management software, has announced that it has raised $17.8 million in a Series B funding round, made up of a $14.8 million investment in December and an additional $3 million this month.  

The round was led by UnitLeader, with participation from current investors Kozo Keikaku Engineering [KKE] and Iron Gate Capital.

RemoteLock launched what it claims to be the world’s first universal access platform – cloud-based software that is designed to empower customers in multifamily, vacation rental, commercial and other industries to remotely manage and control access to any space from anywhere. Customers are able to manage access to their properties directly using RemoteLock’s software interface or leverage its API to embed best-in-class access control within their own applications.

The Denver-based company plans to use the funding to accelerate growth, support its growing number of end user customers and integrated software partners, and expand its library of offerings.

RemoteLock COO Hull McKinnon said: “With this latest funding, we are well-appointed to accelerate the growth of our platform. We look forward to growing our amazing team, expanding our solutions, and doing it all at an even faster pace.”

As a result of the financing, UnitLeader CEO Dana Zeff will also join RemoteLock’s board of directors.

Zeff said: “RemoteLock’s unique position in the market as both a lock-agnostic access control platform and an access control API gives them the ability to support all levels of multifamily and gives partners in the multifamily space a more robust solution for their clients. RemoteLock fills an access control gap in the multifamily space.”

According to RemoteLock, its access control platform is the first to be both hardware and software agnostic.

RemoteLock manages smart locks from leading brands as well as wired access devices, providing users with cost-effective access management solutions for any door on a property— whether it is an internal property doors or common doors such as main entrances, elevators and garages. Users can manage their preferred mix of access control products throughout their portfolio all on a single, centralised dashboard.

With installations in more than 65 countries, RemoteLock manages over 100 million door opens per year.

RemoteLock CEO Nolan Mondrow said: “We are thrilled to welcome Dana to our board and look forward to her wealth of expertise, particularly in the multifamily market. We look forward to our continued growth in the vacation rental, commercial and multifamily markets as we set out to fundamentally change the way property owners and managers approach access control throughout their portfolios.”