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- August Home
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
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
Website
Status
Acquired
Customer focus
B2C
Revenue model
Product sales
Valuation
$800M (acquired Dec 2022)
Sectors
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.
| Acquirer | Date | Type | Price |
|---|---|---|---|
| 1 Dec 2022 | Strategic 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
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2017 | Series C | Industry Ventures; Maveron; Qualcomm Ventures; Western Digital Capital; Scale-Up; Liberty Mutual Insurance; AGL Energy; Comcast Ventures; Bessemer Venture Partners; SPDG | $25M | - |
| Mar 2015 | Series B | Bessemer Venture Partners (lead) | $38M | August 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 2013 | Series A | Maveron (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 2013 | Seed | Maveron (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
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Mar 2013 | ||
| 2 | Participant | Nov 2013 | ||
| 2 | Lead | Mar 2015 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Jul 2017 | ||
| 1 | Participant | Nov 2013 | ||
| 1 | Participant | Jul 2017 | ||
This data is available for Pro users. Sign up to see all 19 August Home investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAugust Home Competitors
August Home competitors include listed companies like Eureka Forbes, EIZO and Basler, and private ones like Huami, DeePoon and Hydrow.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $41M | - | $800M | 19.5x | ||
| Publicly listed | $281M | $29M | $791M | 2.5x | ||
| Publicly listed | $523M | $90M | $810M | 1.3x | ||
| Private | - | - | $830M | - | ||
| Private | - | - | $857M | - | ||
| Publicly listed | $255M | $40M | $740M | 2.5x |
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 FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $281M | $29M | 2.7x | 2.5x | 25.7x | 20.5x | |||
| $523M | $90M | 1.4x | 1.3x | 8.0x | 16.2x | |||
| $255M | $40M | 3.0x | 2.5x | 19.2x | 13.0x | |||
| $780M | $102M | 0.6x | 0.6x | 4.6x | 5.0x | |||
| $68M | $1M | 12.2x | - | 569.6x | - | |||
| $214M | $63M | 2.9x | 2.7x | 10.0x | 10.5x | |||
| $85M | ($43M) | 10.0x | - | (19.8x) | - | |||
| $1.7B | ($936K) | 0.2x | - | (395.5x) | - | |||
This data is available for Pro users. Sign up to see all August Home competitors and their valuation data. Start Free Trial | ||||||||
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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