Overview

SmartThings offers a platform for automating and controlling smart home devices, catering to tech-savvy homeowners and renters. Their products include a variety of smart devices like sensors, cameras, and smart plugs, which can be managed through a user-friendly app on smartphones or tablets. A key feature is SmartThings Edge, which processes automation locally on the user's hub for faster and more reliable performance. The company generates revenue through device sales and premium app services, such as SmartThings Energy, which helps users monitor energy consumption. By partnering with other smart device manufacturers, SmartThings expands its ecosystem, making homes more connected and efficient while promoting eco-friendly living.

Simplify's Take

What believers are saying

• Rising demand for energy-efficient homes aligns with SmartThings Energy services.
• The new Matter standard enhances device interoperability, expanding SmartThings' ecosystem.
• Subscription-based models in smart home services offer new revenue streams for SmartThings.

What critics are saying

• Increased competition from AI-integrated devices challenges SmartThings' market position.
• Rapid technological advancements may outpace SmartThings' current offerings, risking obsolescence.
• Reliance on partnerships poses risks if key partners end their collaboration.

What makes SmartThings unique

• SmartThings offers a comprehensive platform for smart home automation and control.
• The SmartThings Edge platform ensures faster, reliable smart home experiences with local processing.
• SmartThings' partnerships expand its ecosystem, integrating with various smart device manufacturers.

Help us improve and share your feedback! Did you find this helpful?

YesNo

Funding

Total Funding

$215.5M

Above

Industry Average

Funded Over

3 Rounds

Notable Investors:

BoxGroupGreylock PartnersSV AngelFirst Round Capital

Notable Investors:

BoxGroupGreylock PartnersSV AngelFirst Round Capital

$200,000,000

Acquisition

Jun 2014

Acquisition funding comparison data is currently unavailable. We're working to provide this information soon!

Acquisition Funding Comparison

Coming Soon

View all funding stages