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,…

Subscribe to go deeper

GCV subscribers get access to all our proprietary data and deep-dive articles, as well as the global directory of CVC investors.



Not sure if you have a subscription?