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Smart Lock Companies

Smart locks have become one of the most popular "smart" technology sectors in both the residential and commercial access control markets due purely to how practical they can be in saving time and headaches while giving additional security information with access logs.

Below we take a look at some of the key players in each of the markets as well as investment and acquisition activity.

Residential Smart Locks

The residential smart lock market was disrupted for a short time with new software led startups. Over time the market has consolidated around a few large conglomerates and ecosystems.

Key ecosystems include:

  • Voice Control: Alexa, Google Assistant Siri
  • Smart Home Hubs: Samsung Smart Things, Google Home/Nest, Apple Homekit TV/HomePods
  • Smart Home Security: ADT,, Vivient
  • Mobile Ecosystems: Android/iOS
Smart Lock Market

Spotlight & Acquisitions

The industry has taken several turns over the last few years with new industry startups causing established lock vendors to develop in-house software, hardware connectivity and app development teams. This shift has seen some consolidation via acquisitions with a smaller number of active players as the industry matures.

Assoy Abloy Brands

ASSA ABLOY was founded in 1994 and is one of the largest global suppliers of door openings solutions  with over 48,000 Employees and a wide range of brands under its umbrella.

Key Smart Lock Events:

  • Acquired August in 2017 for an undisclosed amount (Press release)
    - August had raised a total of $73M over 3 venture rounds.
  • Acquired Yale in 2000 (Press Release)
  • Acquired Israel based Mul-T-Lock in 2000 (Press Release)


  • 2017 Revenue of $8B
  • $20B market cap
  • Stock Ticker: ASAZF
Spectrum Brands

Spectrum Brands was original founded as a French battery company in 1906

Key Dates:

  • 2012 - Spectrum Brands Holdings Acquires Stanley Black & Decker’s Hardware & Home Improvement Group for $1.4 Billion in Cash including Kwikset, Baldwin and Weiser
  • 2003 - Black & Decker purchases Baldwin Hardware and Weiser Lock from the Masco Corporation to encompass four major brands, Kwikset, Price Pfister, Baldwin Hardware and Weiser Lock
  • 1989 - Black and Decker purchases Emhart, including its Kwikset division

Key Stats

  • Trades on NYSE as SPB
Allegion Smart Lock

Allegion plc is a Dublin based provider of locking solutions and has a wide range of portfolio companies and investment activity. The company was formed in out of  2013 Ingersoll Rand Security Technologies as 23 global brands to join forces under the brand Allegion.

Key Dates

  • 2018 - Launches $50M Allegion Ventures venture fund (Press Release)
  • 2013 - Allegion spins off from Ingersoll Rand as independent company
  • 1974 - Ingersoll Rand acquires Schlage

Key Stats

  • Traded on NYSE with ticker ALLE
  • $2B in sales
  • 10,000+ employees

Additional Acquisitions:

  • 1/2019 - Lockitron is acquired by Chamberlain Group (Press Release)


A closer look at some companies who have recently raised venture funding.

Investment round highlights:

Crowdfunding Highlights:

Commercial Smart Locks

Looking for more startups targeting commercial smart lock market?

Ultimate Smart Lock Guide

Compare locks based on price, integrations and features.