Announcing DOOR: The Future of Residential Living

Built on Latch’s foundation of access control and building monitoring, the DOOR app enhances the residential experience while increasing efficiencies

Today, Latch, Inc., soon to be DOOR, announced its vision for residential living with the unveiling of the DOOR app, which brings together products, services, technology, and community to improve the residential living experience and reduce costs for building owners. Built on the strong foundation Latch established with its access control and entry systems, the DOOR app, launching July 4, 2024, is anchored by the Doorman, an AI assistant that combines the technology and unique data of each building to serve timely and relevant information to residents and property managers.

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Announcing the DOOR app, which brings together products, services, technology, and community to improve the residential living experience and reduce costs for building owners. (Photo: Business Wire)

“Today we are excited to unveil the culmination of our team’s hard work and invention with the DOOR app. The Doorman knows the unique things about your building, never gets tired, and truly raises the bar in assisting residents and property managers,” said Jamie Siminoff, Chief Doorman. “We are expanding upon Latch’s core technology to deliver the residential living experience people expect in today’s world. Just as we can track the status of our food delivery, residents want to know when the plumber will arrive to fix their leaky pipe or how busy the gym in their building is. It's time for technology to support the way we want to live in our homes, and to do it with a focus on Net Operating Income (NOI).”

DOOR brings together cameras, locks, intercoms, sensors, monitors, and more to create an affordable, easy-to-install set of access control and property management products that reduces operating costs and simplifies building management while analyzing unique data from each property to turn insights into action. From monitoring for running toilets or doors left open in freezing weather to requesting maintenance on appliances, DOOR will provide timely information and services to protect the bottom line and empower residents, leading to a strong community and efficient property.

The DOOR app positions each property above its peers by delivering what today’s residents expect:

• Residents will be able to effortlessly access a full list of amenities (customizable by the property manager), including the pool, outdoor theater, firepit, gym, and so much more.
• Residents and managers will be able to access real-time information about common areas in the building --- see how busy the gym or pool is or check on co-working space availability and book directly through the app. This real-time occupancy is powered by a one time purchase of a $15 sensor that has a five year battery life.
• Property managers will be able to charge for amenity bookings, adding new revenue streams and enhancing the building’s NOI.
• The Doorman will send real-time notifications about maintenance and events happening in the building around the clock and give updates on mixers, events, and other public announcements, ensuring communities stay connected and engaged.
• And so much more…

DOOR Services, Unlocking the Honest Day’s Worker

DOOR will also bring full service amenities to buildings and reduce the stress and complexity of finding trustworthy Honest Day’s Workers by enabling efficient sharing and booking of service providers among residents. DOOR Services, also launching July 4, 2024, will make it easy to hire the dog walker the neighbor loves or a cleaner that has been working in the building for years. Rather than spend countless hours finding and booking contractors through word-of-mouth referrals, residents will be able to easily find, hire, track the status of, provide access, and pay service providers directly in the app they are already using to unlock their door.

Also with DOOR Services, residents will be able to easily create a maintenance ticket for property managers right in the DOOR app, and the Doorman will immediately assist residents with everything from washing machine repairs to a leaky faucet, providing real-time status updates on their service. On the back end, property managers will be able to organize and stay on top of service tickets and receive insights from DOOR monitors and sensors to reduce repeat visits, save costs, and minimize frustration.

“When residents are happy, they become invested in our communities, feel a sense of belonging, and take pride in where they live; they choose DOOR buildings over others and are willing to pay a premium, stay longer, and actively contribute to the upkeep and vibrancy of their buildings. It’s time we innovate the way we live the same way we reinvented home security, and we’re excited about what the future holds,” added Siminoff.

The DOOR app and DOOR Services will launch on July 4, 2024 with the features discussed above rolling out at a frequent cadence afterwards. Learn more at DOOR.com or by contacting Chief Doorman, Jamie Siminoff, at j@door.com.

About DOOR

DOOR is on a mission to enhance the residential living experience with its DOOR app, which brings together products, services, technology, and community to reduce costs for building owners and deliver the living experience residents expect in today’s world. Built on the strong foundation Latch established with its access control and entry systems, the DOOR app is anchored by the Doorman, an AI assistant that combines the technology and unique data of each building to serve timely and relevant information to residents and property managers. From access control to monitoring for leaky toilets and checking the status of amenities and service providers, DOOR supports all the needs of residential living in one, easy-to-use app. Visit DOOR.com to learn more.

Forward-Looking Statements

This release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future,” “opportunity,” “plan,” “may,” “should,” “would,” “will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Forward-looking information includes, but is not limited to, statements regarding: the company’s future products and product releases, performance, and operations, and the related benefits to stockholders, customers, and residents; and the company’s branding and strategy. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: the company’s ability to implement business plans; installation and implementation of new products by customers; and delays suffered by the company or third parties. Many factors could cause actual future events to differ materially from the forward-looking statements in this Report. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of the company’s Annual Report on Form 10-K filed with the SEC on March 1, 2022, and other documents filed by the company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the company assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law, including the securities laws of the United States and the rules and regulations of the SEC. The company does not give any assurance that it will achieve its expectations.

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