SmartRent Receives Strategic Investment From Lennar to Scale Smart Home Technology for Homebuilders and Homebuyers

Rhea-AI Summary

SmartRent, a leader in smart home automation, announced a strategic investment from Lennar Corporation (NYSE: LEN, LEN.B) on March 4, 2021. This partnership highlights the effectiveness of Alloy SmartHome's Self-Guided Tour technology, enabling homebuyers to tour model homes independently. As part of the investment, Eric Feder, President of LEN^X, will join SmartRent's board. Lennar's backing reflects a broader industry trend towards modernizing real estate processes through tech innovation, with SmartRent offering smart solutions for property managers and builders.

Positive

• Strategic investment from Lennar Corporation enhances SmartRent's growth prospects.
• Alloy SmartHome's Self-Guided Tour technology is gaining traction, improving homebuyer experience.
• Eric Feder joining SmartRent's board may facilitate further collaboration and innovation.

Negative

• None.

SCOTTSDALE, Ariz., March 4, 2021 /PRNewswire/ -- SmartRent, a provider of smart home automation for property owners, managers, developers and residents, today announced a strategic investment from Lennar Corporation (NYSE: LEN and LEN.B), one of the nation's leading homebuilders. The investment is a continuation of the company's commercial partnership with SmartRent and its Alloy SmartHome offering for homebuilders and homebuyers. As part of Lennar's investment, Eric Feder, President of LEN^X, Lennar's innovation and technology division, will join SmartRent's board of directors.

The investment is a testament to the growth and efficacy of Alloy SmartHome's Self-Guided Tour solution, which Lennar utilizes for model home tours to solve for the desires of today's and tomorrow's home shoppers. Using Self-Guided Touring technology, prospective homebuyers can schedule an on-site private, self-guided tour for a safe and simple way to tour model homes independently. Lennar relies on Alloy SmartHome Self-Guided Tours to allow prospective home shoppers to experience its model homes in new communities across the country.

"Lennar is a pioneer in recognizing new ways to build, showcase and equip a smart home," said Lucas Haldeman, CEO and co-founder of SmartRent. "We couldn't be more thrilled to partner with the company and have their support as Alloy SmartHome grows rapidly."

In addition to Self-Guided Tours, Alloy SmartHome offers fully-equipped smart home technologies married within one branded app for home builders to install in new homes. With Alloy SmartHome's offerings like remotely controlled access, temperature, lighting, and blinds, sellers can monitor for-sale homes for any security or leak concerns, and buyers are welcomed home with an intuitive and centralized smart home upon move-in. SmartRent offers these technologies scaled to retrofit existing multifamily properties and new builds.

"Our strategic partnership with and investment in SmartRent underscores our intense focus on implementing technology and innovation to streamline and enhance all aspects of the homebuilding and homebuying processes," said Eric Feder, President of LEN^X. "I look forward to joining SmartRent's board of directors and we are enthusiastic about the opportunities that lie ahead."

Lennar's backing of SmartRent -- alongside real estate and technology titans like Spark Capital, the Amazon Alexa Fund, Fifth Wall, Energy Impact Partners, Bain Capital Ventures and RET Ventures -- further cements the industry's growing recognition for the need to modernize processes throughout real estate.

About SmartRent
Founded in 2017, SmartRent is a smart home automation platform company for property managers, builders, buyers, and residents. From self-guided tours to parking management and access control, SmartRent's integrations, partnerships and purpose-built solutions provide endless options for property owners and developers to create a customized automation platform that works for them. In addition to offering the leading multifamily management technology stack, SmartRent's Alloy SmartHome offerings are tailored for the single-family homebuilder and buyer market. For more information, please visit smartrent.com or alloysmarthome.com.

Media Contact:
Inkhouse for SmartRent
smartrent@inkhouse.com

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SOURCE SmartRent

FAQ

What is the strategic investment by Lennar Corporation in SmartRent?

Lennar Corporation announced a strategic investment in SmartRent to support its smart home automation initiatives, particularly through its Alloy SmartHome technology.

How does Alloy SmartHome's Self-Guided Tour technology work?

The Self-Guided Tour technology allows potential homebuyers to schedule and conduct private, on-site tours of model homes independently, enhancing the touring experience.

Who is Eric Feder in relation to SmartRent?

Eric Feder is the President of LEN^X and will join SmartRent's board of directors as part of the investment by Lennar Corporation.

What is the significance of Lennar's investment in SmartRent for shareholders?

Lennar's investment signifies a strong commitment to integrating technology in homebuilding, which may enhance SmartRent's market position and growth potential, positively impacting shareholders.