Latch, Inc. (NASDAQ: LTCH), maker of LatchOS, the full-building
enterprise software-as-a-service (SaaS) platform, today announced
new partnerships with Marks USA, a division of NAPCO Security
Technologies (NASDAQ: NSSC), and TownSteel, Inc., along with an
intended partnership with dormakaba Holding AG (SWX: DOKA). The
powerful combination of these partnerships should bring LatchOS to
even more residents, property managers, and guests, and help
accelerate Latch’s growth across new market segments, lock formats,
and verticals.
“From the beginning, our vision for Latch has been much broader
than access. Our value is in delivering holistic, open solutions
that drive user engagement and transform the way people experience
the spaces where they live, work, and visit,” said Luke
Schoenfelder, Latch Co-Founder, CEO, and Chairman of the Board of
Directors. “As we continue to scale our business, we are excited to
bring the power of LatchOS to even more spaces, doors, and people
around the world. We are thrilled to partner with these industry
leaders to help us accelerate our path forward and meet the rapidly
growing market demand for LatchOS.”
The offerings with Marks, TownSteel,
and dormakaba are expected to be the first access-based partner
offerings in Latch’s growing ecosystem of integrated first- and
third-party devices, software, and services.
Initial offerings are expected to
focus on:
- Growing new market segments: Marks and Latch
plan to launch a new Latch Lens integration with the Marks
ArchiTech Series Networx Locks. The widespread adoption of this
mortise-style lock will streamline retrofit installations and help
expand Latch’s footprint in new market segments.
- Delivering new lock formats: In response to
growing customer demand for new lock formats, TownSteel and Latch
plan to deliver an interconnect lock powered by the Latch Lens.
This solution will be available first with a major national
retrofit customer before being rolled out nationally.
- Driving geographic expansion: dormakaba and
Latch plan to launch a new integration between dormakaba’s resivo
connected access devices and LatchOS to bring the full Latch
software experience to new and existing dormakaba customers across
Europe.
“We are excited to expand the Marks
USA product portfolio and offer new LatchOS-enabled locks to
deliver an exceptional, connected access experience for all of our
customers,” said Richard Soloway, NAPCO Security Technologies
Chairman and President. “By combining our industry-leading, quality
architectural door access hardware with the power of LatchOS, we
can provide a more robust, fluid user experience and enable our
customers’ end users to take advantage of the full Latch software
suite, from their lobby, to their apartment, to their office, and
all the Marks door locks in between.”
“At TownSteel, we are looking forward
to our new Interconnected Partnership with Latch. Like Latch, our
mission is to never stop thinking of innovative ways to elevate the
industry with the most advanced security lock solutions coming to
front doors around the world,” said Kevin Hamilton, President of
TownSteel. “We are thrilled to be able to expand our product
portfolio to offer new LatchOS-enabled locks, delivering an
exceptional connected experience for our customers.”
More information on Latch’s partner
program can be found here:
https://www.latch.com/the-latch-lens-partner-program.
About Latch,
Inc.Latch makes spaces better places to live, work, and
visit through a system of software, devices, and services. More
than one in ten new apartments in the U.S. are currently being
built with Latch products, serving customers in more than 43 states
through its flagship full-building operating system, LatchOS. For
more information, please visit https://www.latch.com.
FORWARD-LOOKING STATEMENTS
This release contains
certain forward-looking statements within the meaning of the
federal securities laws, including statements regarding adoption of
Latch’s technology and products. These forward-looking statements
generally are identified by the words "believe," "project,"
"expect," "anticipate," "estimate," "intend," "strategy," "future,"
"opportunity," "plan," "may," "should," "would," "will continue,"
"will likely result," and similar expressions. Forward-looking
statements are predictions, projections, and other statements about
future events that are based on current expectations and
assumptions and, as a result, are subject to risks and
uncertainties. Forward-looking information includes, but is not
limited to, statements regarding: the Company’s future products,
performance, and operations, and the related benefits to
shareholders, customers, and residents and the Company’s strategy.
Many factors could cause actual future events to differ materially
from the forward-looking statements in this document, including
Latch’s ability to implement business plans and changes and
developments in the industry in which Latch competes. The foregoing
list of factors is not exhaustive. You should carefully consider
the foregoing factors and the other risks and uncertainties
described in the "Risk Factors" section of our Registration
Statement on Form S-1 filed with the SEC on June 25, 2021 and other
documents filed by Latch from time to time with the SEC. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and the Company assumes no obligation to update or
revise these forward-looking statements, whether as a result of new
information, future events, or otherwise, except as required by
law, including the securities laws of the United States and the
rules and regulations of the SEC. The Company does not give any
assurance that it will achieve its expectations.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/a29e7040-a886-42ef-aa3a-207129179503
CONTACTSLatch
Investorsinvestors@latch.com
Mediapress@latch.com
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