Smart Home Startup SmartRent Raises $32 Million

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Scottsdale, AZ based SmartRent, announced new founding to help property owners raise profits and generate new revenues via add-on services for their tenants.

The Series B funding amount, $32 million, was raised by lead investor Bain Capital Ventures, with assistance from RET Ventures, Essex Property Trust, and various other investors, mostly multifamily property owners.

SmartRent currently has more than 40,000 units installed with 66,000 additional units under agreement for this year.