Latch, Inc. (“Latch” or the “Company”), maker of the full-building enterprise software-as-a-service (SaaS) platform LatchOS, today announced the launch of its Latch Lens Partner Program. This industry-first program will allow third-party lock manufacturers to leverage Latch Lens – the universal module that is embedded in all Latch locks to connect devices to LatchOS – on any door. Through this program, Latch will be able to expand into new geographies and vertical markets without needing to develop and manufacture new products to meet specific use cases.
The Latch Lens Partner Program brings third-party lock manufacturers into Latch’s connected building ecosystem for the first time, allowing them to connect to LatchOS and offer a range of new capabilities to their customers. The Latch Lens is simple to integrate into existing hardware—from new cylindrical locks and rim locks to European formats and exit devices—enabling Latch’s partners to offer both traditional and smart locks to customers without the time and investment needed to create their own software.
LatchOS is the first enterprise SaaS operating system that brings together all the elements that make up the modern building for building managers, residents and service providers. With a 10-digit numeric display, back and enter buttons, and faster upgrade times, the newest Latch Lens allows users to enter a unique door code to unlock, while also allowing them to unlock using a smartphone, Apple Watch, or a keycard for added convenience and flexibility. From smart access to visitor and delivery management, the Latch Lens Partner Program will allow partners to bring all of Latch’s software – including the resident Latch App and property management platform Latch Manager – to their customers.
“Through our new Latch Lens Partner Program, we are unleashing the power of our operating system by bringing LatchOS to more buildings, more doors, and more people around the world, no matter the type of access mechanism being used,” said Luke Schoenfelder, co-founder and CEO of Latch. “Between regional hardware disparities, variations in building type, and different security needs and use-cases, there hasn’t been a one-size-fits-all smart access solution for every space—until now. The Latch Lens features all of our smart access products in one module, enabling any lock manufacturer to benefit from Latch’s innovation. Importantly, this product innovation and partner program will allow us to dramatically decrease our time to market and eliminate the need to develop new, tailored products as we expand LatchOS into new verticals and high-growth markets internationally.”
There are an estimated 47 million rental homes in the United States representing an approximately $54 billion total annual market – of which Latch currently services less than one percent – and an estimated 93 million apartments in Europe representing an approximately $90 billion total annual market. The Latch Lens Program will enable accelerated expansion to new customers across these geographies that need a lock format or access solution not currently available in the Latch ecosystem.
To qualify for the Latch Lens Partner Program, access device partners will need to meet Latch’s industry-leading quality standards for security, privacy, product, and experience. For more information about becoming a Latch access device partner, please email firstname.lastname@example.org.
About Latch, Inc.
Latch is reimagining the modern buildings of today and driving evolution for the cities of tomorrow. Latch delivers a building-wide system designed to help owners, residents and third parties (e.g. guests, couriers, service providers) seamlessly experience the modern building through integrated products, software and services. More than one in ten new apartments in the U.S. were being built with Latch products in 2019, with multifamily buildings in more than 35 states featuring Latch solutions and supporting more than two million unlocks per month. www.latch.com.
This document contains certain forward-looking statements within the meaning of the federal securities laws, including statements regarding the products and services offered by Latch and the markets in which it operates. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,” “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. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including risks and uncertainties described in the “Risks Related to Latch’s Business and Industry” section of Exhibit 99.2 of TS Innovation Acquisitions Corp.’s (“TSIA”) report on Form 8-K filed with the SEC on January 25, 2021 relating to its business combination with Latch and other documents filed by TSIA 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 Latch assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Latch gives no assurance that Latch will achieve its expectations.