US-based cybersecurity company August closed a $38m series B round featuring Comcast Ventures and Qualcomm Ventures, the respective corporate venturing arms of cable and telecommunications company Comcast and wireless technology maker Qualcomm, yesterday.
SanDisk Ventures, SingTel Innov8 and CAA Ventures, the respective corporate venturing units of computer storage company SanDisk, telecommunications company Singapore Telecommunication, and talent agency Creative Artists Agency, also participated in the round, alongside telecoms network KDDI, consultancy Global Brain and Dolby Family Ventures, the investment vehicle of audio specialist Dolby Laboratories’ owners.
The series B round was led by Bessemer Venture Partners and also included existing investors Maveron, Cowboy Ventures, Industry Ventures, Rho Ventures and SoftTech VC.
August has developed a smart lock that can be unlocked with a smartphone app functioning as a virtual key which can be sent to friends and family. It has also created a device called Connect, which enables remote control and integration with other smart devices.
The company has raised $50m to date, including an $8m series A round in 2013 backed by Maveron, Cowboy Ventures, Industry Ventures, Rho Ventures and SoftTech VC. Earlier that same year, August received $2m from a range of angel investors.
The latest funding will be used to extend August’s product range, expand into retail markets and hire more employees.