US-based smart home technology provider Level Home has received over $100m in a series C round featuring mass media company Cox Communications and big-box retailer Walmart.
Founded in 2016, the company develops intelligent home devices such as smart locks and bolts. Proceeds from the round will be put towards further developing its technology platform and product offering.
In addition to the funding, Level announced it has acquired Dwelo, a creator of smart device management software, and plans to integrate the platforms to offer a next-generation smart home offering for residential properties.
The round boosted the company’s total funding to $171m, it said. It emerged from stealth in October 2019 with $71m in funding from investors including Walmart, real estate developer Lennar and Hut 8 Ventures.
John Martin, Level’s co-founder and chief executive, said: “Today’s smart home is filled with products that lack the simplicity, design and quality customers expect. To be transformative you have to offer a complete experience that integrates both hardware and a disruptive software and services platform.
“By welcoming Dwelo to Level, we now can offer a seamless experience of thoughtfully designed hardware with a powerful [software-as-a-service] platform, giving residents incredible command, convenience and new abilities to personalise their homes.”
