SmartRent went public via a SPAC merger with Fifth Wall Acquisition I in a $2.2bn deal.

SmartRent, a provider of smart home operating systems, went public via a SPAC merger with Fifth Wall Acquisition I in a $2.2bn deal. The merger includes a $155m PIPE anchored by Starwood Capital, Lennar, Invitation Homes, Koch Real Estate Investments, Baron Capital Group, D1 Capital Partners, Long Pond Capital and Conversant Capital. "We started this business as frustrated real estate operators looking for a comprehensive smart home solution. We understood the deficiencies of the enterprise smart home industry and knew that if we could build a fully integrated platform that met the needs of operators and their communities, we would have an impact not just on their business, but on society at large. Today we offer the most robust and deeply integrated platform on the market, validated by its rapid adoption and 100% customer retention," Lucas Haldeman, SmartRent Founder and CEO.