Level Home, Inc. Acquires and Merges with Dwelo, Inc., Secures $100+M Series C
November 10 2021 - 8:00AM
Level Home Inc., the company redefining the smart home experience,
today announced that it has acquired and merged with Dwelo, Inc.,
the leading provider of SaaS-based smart device management
platforms for multifamily properties. With the addition of Dwelo,
Level now offers a world-class smart home platform of integrated
hardware and software solutions for all residential properties,
including both single-family and multifamily units.
Dwelo’s software and service platform, the multifamily
industry’s first, enables owners to offer smart home experiences to
their residents, while optimizing their operations. Dwelo's suite
of in-unit and property-wide smart technology solutions have helped
it achieve industry leadership, including a recent acquisition of
Vivint’s multifamily division. With Dwelo, Level’s
industry-defining locks will now be introduced to multifamily,
where the Level locks’ superior experience, suitability for
retrofits, and operational efficiency are expected to make them the
multifamily industry’s most popular access hardware.
In single-family homes, Level continues to be the innovation
leader and dominates the smart home entry experience with its suite
of invisible smart lock products that offer world-class design,
ease of installation and the highest level of security and
reliability. Adding Dwelo’s platform to Level’s consumer business
creates the potential for a more modern single-family experience
that can include services such as managed package delivery, self
touring, and vacation rental management.
“Today’s smart home is filled with products that lack the
simplicity, design and quality customers expect,” said John Martin,
Level co-founder and CEO. “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 SaaS platform, giving residents incredible command,
convenience, and new abilities to personalize their homes. We
founded Level with the vision of reimagining the smart home, and
with Dwelo, we are introducing the next generation experience for
property owners and residents.”
“At Dwelo, we set out to transform the way people live and work
in apartments with smart technology,” said Mike Rovito, CEO of
Dwelo and, now, President at Level. “Joining Level will enable us
to more readily achieve that mission. Creating the type of
transformative experiences that we and our customers envision
requires innovation at all levels of the product stack. Combining
the Dwelo software and service platform with Level’s world-class
access hardware and design prowess will enable us to offer truly
unique experiences to owners, managers, and residents alike.”
In addition to the Dwelo acquisition, Level has also raised a
$100+ million Series C round led by Cox Communications, with
participation by Walmart. Level has raised a total of $171 million
to date and the new capital will support continued product
creation, platform development, and expand the value for residents
and managers across single-family, vacation rentals, and
multifamily real estate.
“This investment builds on Cox’s growing IoT portfolio. It will
help our Cox Communities team to continue serving as a trusted
advisor to owners, management companies, builders, developers and
consultants. We will be able to offer a leading-edge,
integrated hardware and software platform to help the multifamily
dwelling industry automate and digitally enable properties for
their residents,” said Mark Greatrex, incoming president, Cox
Communications.
Level was founded in 2016 by John Martin and Ken Goto to create
smart home products that are simple, intuitive, and seamlessly fit
into the everyday life of today’s connected consumers. The Level
Lock, Touch Edition, was recently awarded Gold in the 2021
International Design Excellence Awards (IDEA), a prestigious award
that recognizes products and services that encourage, inspire, and
push the industry forward.
For more information, please visit: https://level.co/
About Level Level is redefining the smart home
experience with invisible technology and software. At Level, we
take a unique approach — rather than start where others have
started, we start at square zero and design products that make
“smart” invisible. Level proudly offers Level Lock, a simple and
elegant way to add convenience to your door; Level Lock – Touch
Edition, the smallest most advanced smart lock; and Level Bolt, the
first invisible lock that transforms a standard deadbolt into a
connected lock. Globally recognized as best-in-class for quality
and innovation, Level Lock has won both the Red Dot and iF Award
for Product Design. Level was founded in 2016 and is headquartered
in the San Francisco Bay Area. For more information, please visit
level.co.
About Dwelo Smart ApartmentsDwelo is a smart
apartment solutions provider built to increase multifamily owners'
net operating income. With Dwelo's smart device management
platform, smart devices decrease operating costs and increase
operating income in multifamily communities. Dwelo has earned the
trust of nearly 100 ownership groups, representing more than half a
million units nationwide, by solving their problems and delivering
on commitments. Visit dwelo.com for more information.
About Cox CommunicationsCox Communications is
committed to creating meaningful moments of human connection
through broadband applications and services. The largest private
telecom company in America, we proudly serve nearly seven million
homes and businesses across 18 states. We're dedicated to
empowering others to build a better future and celebrate diverse
products, people, suppliers, communities and the characteristics
that make each one unique. Cox Communications is the largest
division of Cox Enterprises, a family-owned business founded in
1898 by Governor James M. Cox.
About WalmartWalmart Inc. (NYSE: WMT) helps
people around the world save money and live better - anytime and
anywhere - in retail stores, online, and through their mobile
devices. Each week, approximately 220 million customers and members
visit approximately 10,500 stores and clubs under 48 banners in 24
countries and eCommerce websites. With fiscal year 2021 revenue of
$559 billion, Walmart employs 2.2 million associates worldwide.
Walmart continues to be a leader in sustainability, corporate
philanthropy and employment opportunity. Additional information
about Walmart can be found by visiting corporate.walmart.com, on
Facebook at facebook.com/walmart and on Twitter at
twitter.com/walmart.
Media Contact:level@highwirepr.com
Walmart (NYSE:WMT)
Historical Stock Chart
From Aug 2024 to Sep 2024
Walmart (NYSE:WMT)
Historical Stock Chart
From Sep 2023 to Sep 2024