August Home Acquisition, Valuation, Funding & Investors

August Home was acquired by Fortune Brands Home & Security for $800M in December 2022.

August Home acquisition price

$800M

Acquired by Fortune Brands Home & Security · Dec 2022

Cumulative funding August Home raised

$73M

across 4 funding rounds

Key investors in August Home

  • Maveron
  • Bessemer Venture Partners
  • Industry Ventures
  • Qualcomm Ventures
  • Uncork Capital
  • Comcast Ventures
  • Cowboy Ventures
  • Morado Ventures

August Home Overview

About August Home

August Home is a San Francisco-headquartered developer of smart home access systems including the August Smart Lock, which enables keyless entry via smartphone app. Compatible with major door locks from Schlage, Yale, and Kwikset, products integrate with Amazon Alexa, Google Assistant, and Apple HomeKit for remote control and guest access. Acquired by ASSA ABLOY in 2017, August Home serves residential markets across North America with Wi-Fi and Bluetooth-enabled doorbells and cameras.


Founded

2012

HQ

United StatesSan Francisco, CA

Website

august.com

Status

Acquired

Customer focus

B2C

Revenue model

Product sales

Valuation

$800M (acquired Dec 2022)

August Home Acquisition

August Home was acquired by Fortune Brands Home & Security for $800M on 1 December 2022.

Before the acquisition August Home had raised $73M across 4 funding rounds.

Fortune Brands Home & Security acquired the U.S. and Canadian Yale and August residential smart locks businesses, along with the Emtek and Schaub premium door and cabinet hardware businesses, from ASSA ABLOY. August Home, Inc. specializes in smart home locks under the August brand. The deal, valued at $800 million base purchase price ($700 million net of tax benefits), was on a cash-free, debt-free basis and closed following ASSA ABLOY's acquisition of Spectrum Brands' hardware business amid U.S. Department of Justice antitrust concerns. The transaction aligns with Fortune Brands' strategy as a brand, innovation, and channel leader, enhancing its security portfolio with Yale and August's engineering expertise and entering the premium hardware market with Emtek and Schaub. The net purchase price equates to 7.8x estimated 2022 adjusted EBITDA for the combined businesses before synergies. Fortune Brands expects $500-550 million in annual net sales from the acquisition in the third full year post-close.

August Home acquisition details
AcquirerDateTypePrice
  • Fortune Brands Home & Security
1 Dec 2022Strategic M&A$800M

August Home Funding History

August Home has raised a total of $73M across 4 funding rounds.

August Home's first fundraising round was a $2M seed round in March 2013. The most recent completed round was a $25M Series C in July 2017.

August Home funding rounds

August Home funding rounds
DateStageInvestorsRaisedDeal Summary
Jul 2017Series CIndustry Ventures; Maveron; Qualcomm Ventures; Western Digital Capital; Scale-Up; Liberty Mutual Insurance; AGL Energy; Comcast Ventures; Bessemer Venture Partners; SPDG$25M-
Mar 2015Series BBessemer Venture Partners (lead)$38MAugust Home raised $38 million in its Series B funding round on March 24, 2015, led by Bessemer Venture Partners with participation from Comcast Ventures, Qualcomm Ventures, Maveron, Cowboy Ventures, Industry Ventures, Rho Ventures, SoftTech VC, CAA Ventures, Center Electric Ventures, Dolby Family Ventures, Global Brain, KDDI, Rothenberg Ventures, SanDisk Ventures, Singtel Innov8, and Winklevoss Capital. This brought the company's total funding to $50 million at that time. The funds were intended to launch new home access products, expand into retail markets, and grow the San Francisco-based team. August Home positioned itself to define a new category in the smart home market by addressing the 'last five foot problem' of secure home access for homeowners, property managers, and guests using its smart lock, mobile apps, and cloud-based controls. The company had previously developed the August Smart Lock and Connect over the past two years prior to the round, focusing on secure and intelligent home access management. Rob Stavis from Bessemer Venture Partners joined August’s Board of Directors following the investment. Later developments included a Series C round of $25 million in July 2017 from existing investors Bessemer Venture Partners, Comcast Ventures, Maveron, Qualcomm Ventures, and new investors Progressive, AGL, Liberty Mutual, and SPDG, bringing total funding to $75 million. By then, August Home had introduced four new products since the 2015 Series B, formed partnerships with Airbnb, Amazon, Apple, Google, HomeAway, and Nest, become the best-selling smart lock, achieved 300% year-over-year lock sales growth, recorded over 260 million lock operations, and reached 500,000 users. The Series C funds supported operations expansion and product/service extension.
Nov 2013Series AMaveron (lead); Industry Ventures; Quotidian Ventures; Morado Ventures; Rho Ventures; Dolby Family Ventures; Uncork Capital; QueensBridge Venture Partners; Cowboy Ventures; CAA Ventures; Center Electric$8M-
Mar 2013SeedMaveron (lead)$2M-

Who has invested in August Home?

19 investors have backed August Home across its funding rounds, including Maveron, Bessemer Venture Partners, Industry Ventures, Qualcomm Ventures, Uncork Capital and Comcast Ventures.

Lead investors include Bessemer Venture Partners and Maveron.


August Home Investors

Investors in August Home by funding rounds participated
InvestorHQRoundsRoleFirst check
MaveronUnited StatesSan Francisco, CA3LeadMar 2013
Industry VenturesUnited StatesSan Francisco, CA2ParticipantNov 2013
Bessemer Venture PartnersUnited StatesSan Francisco, CA2LeadMar 2015
Qualcomm VenturesUnited StatesSan Diego, CA1ParticipantJul 2017
Western Digital CapitalUnited StatesLos Angeles, CA1ParticipantJul 2017
Scale-UpUnited StatesSan Francisco, CA1ParticipantJul 2017
Quotidian VenturesUnited StatesNew York City, NY1ParticipantNov 2013
Morado VenturesUnited StatesSan Francisco, CA1ParticipantNov 2013
Liberty Mutual InsuranceUnited StatesBoston, MA1ParticipantJul 2017
AGL EnergyAustraliaSydney1ParticipantJul 2017
Comcast VenturesUnited StatesSan Francisco, CA1ParticipantJul 2017
Rho VenturesUnited StatesNew York City, NY1ParticipantNov 2013
SPDGBelgiumBrussels1ParticipantJul 2017

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August Home Competitors

August Home competitors include listed companies like Eureka Forbes, EIZO and Basler, and private ones like Huami, DeePoon and Hydrow.

Public and private companies comparable to August Home
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
HuamiChinaBeijingPrivate$41M-$800M19.5x
Eureka ForbesIndiaIndiaPublicly listed$281M$29M$791M2.5x
EIZOJapanJapanPublicly listed$523M$90M$810M1.3x
DeePoonChinaShanghaiPrivate--$830M-
HydrowUnited StatesBoston, MAPrivate--$857M-
BaslerGermanyGermanyPublicly listed$255M$40M$740M2.5x

August Home Public Comps

August Home is no longer listed, but its public comps include Eureka Forbes, EIZO, Basler, Bear Electric Appliance, Shenzhen Rapoo Technology, Funai Soken Holdings, Guangzhou Pearl River, JS Global Lifestyle Co, Quest Holdings and Skyworth Group.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Eureka Forbes$281M$29M2.7x2.5x25.7x20.5x
EIZO$523M$90M1.4x1.3x8.0x16.2x
Basler$255M$40M3.0x2.5x19.2x13.0x
Bear Electric Appliance$780M$102M0.6x0.6x4.6x5.0x
Shenzhen Rapoo Technology$68M$1M12.2x-569.6x-
Funai Soken Holdings$214M$63M2.9x2.7x10.0x10.5x
Guangzhou Pearl River$85M($43M)10.0x-(19.8x)-
JS Global Lifestyle Co$1.7B($936K)0.2x-(395.5x)-

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Common questions about August Home

When was August Home founded?August Home was founded in 2012.
Where is August Home headquartered?August Home is headquartered in San Francisco, CA, United States.
Is August Home publicly listed?No, August Home was acquired by Fortune Brands Home & Security in December 2022.
Who acquired August Home?August Home was acquired by Fortune Brands Home & Security in December 2022.
How much was August Home acquired for?August Home was acquired for $800M in December 2022.
How much funding has August Home raised?August Home has raised $73M across 4 funding rounds.
What was August Home's last funding round?August Home's last funding round was a $25M Series C in July 2017.
Who are August Home's investors?August Home's investors include Maveron, Industry Ventures, Bessemer Venture Partners, Qualcomm Ventures, Western Digital Capital, Scale-Up, Quotidian Ventures, Morado Ventures, Liberty Mutual Insurance, AGL Energy and 9 others.
Which companies are comparable to August Home?Companies comparable to August Home include Huami, Eureka Forbes, EIZO, DeePoon, Hydrow and Basler.

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