SmartThings, the developer of an app for home automation, has been bought for $200m just over two years after it was founded.
Electronics producer Samsung acquired connected internet technology developer SmartThings for $200m on Thursday, granting exits to investors including AOL-backed venture firm Crunchfund.
Founded in 2012, SmartThings has created an app that enables a user’s smartphone to be used as a remote control for devices in their home such as locks, light switches, outlets and thermostats.
The company raised $15.5m across two rounds from Crunchfund and other investors including Greylock Partners, Highland Capital Partners, First Round Capital, SV Angel, Lerer Ventures,…