NEW YORK, October 24, 2022 -- Latch, Inc. (NASDAQ: LTCH), today announces that it has reached 100 million annual unlocks with the Latch app, across iOS, Android, and watchOS. Building on the success of the Latch ecosystem of devices, software, and services, Latch is also announcing LatchOS2, the second generation of its full-building operating system. LatchOS2 will further propel Latch’s mission of making spaces better places to live, work, and visit. “From Dioramic Controls, to Concierge, to our open ecosystem approach with OpenKit, LatchOS2 completely changes the way that people can experience their space,” said Luke Schoenfelder, Latch Co-Founder, CEO, and Chairman of the Board of Directors.
With Dioramic Controls, Latch introduces a revolutionary new interface for residents to view and control their spaces in the Latch App. Built on the USD three-dimensional file format pioneered by Pixar, residents in compatible Latch spaces will now have the ability to control all of the elements in their space from a 3D representation of their environment. Rather than flipping through pages and menus of switches and buttons, Latch App users will be able to naturally click, rotate, and zoom within a representation of their space. Enhanced by Latch’s breakthrough work with the Connectivity Standards Alliance (CSA), Matter-enabled devices will also be viewable and controllable in Latch powered spaces with Dioramic Controls as part of LatchOS2.
With the launch of Concierge, residents now have an enhanced capability to share access with their trusted guests and services, discover new spaces and services nearby, and purchase spaces and services all from the Latch app. For enabled properties, Concierge also expands amenities beyond apartment properties by allowing residents to discover and book a membership with WeWork in a simple and integrated new service, announced last month. With Concierge and LatchOS2, residents now have the ability to interact with their property and neighborhood from the palm of their hand.
For real estate operators, LatchOS2 also provides a new way to quickly and easily manage and monetize building amenities and services. Using Concierge, real estate operators can set availability and pricing and begin to monetize new spaces and services at their building. Building residents currently spend significant amounts of money on services at their properties, but real estate operators haven’t had simple ways to capture this revenue source until now. Concierge can play a central role in enhancing the experience and monetization potential of every space.
In addition to these new capabilities, LatchOS2 also introduces Concierge Pro, a 24 hour a day, seven day a week, remote receptionist for deliveries. Available for spaces equipped with Latch Intercom and Latch Link, real estate operators can now augment their building staff with a flexible and on-demand resource to make their building better. An early version of this service was first announced as Latch Delivery Assistant in 2020, serving properties across the country since then, and it is now a central part of Concierge Pro and LatchOS2.
For years, partners have wanted additional ways to leverage Latch’s award-winning ecosystem and they will finally have the tools they need to create new experiences. With LatchOS2’s OpenKit, Latch partners can now build tightly integrated and differentiated experiences in concert with Latch’s patented ecosystem of hardware, software, and services that enable unlocking and other features directly within partner applications for the first time.
OpenKit provides partners the best in class tools to bring Latch’s suite of devices, services, and software to new experiences across hospitality, delivery, and specialized prop-tech platforms. "When we chose to integrate with Latch’s OpenKit, we knew that we were going to provide our members with the best possible mobile access experience across every space in our growing network,” Bill Smith, CEO of the Landing.
OpenKit complements both Latch’s active support for the Connectivity Standards Alliance, Matter, and Latch’s increased ecosystem support for RealPage, Entrata, and Yardi workflows around resident move-in and move-out. With the launch of LatchOS2 and OpenKit, partners now have a complete system that can meet the needs of their spaces today and tomorrow.
LatchOS2 features will begin rolling out to select customers in the United States this Fall and be available to all customers in 2023. “Through the combination of LatchOS2, the Latch T, Latch Link, and our entire set of products, I am confident that we continue to have the most advanced and exciting product system available for spaces today,” said Luke Schoenfelder, Latch Co-Founder, CEO, and Chairman.
To learn more about Latch, visit: www.latch.com.
About Latch, Inc.
Latch makes spaces better places to live, work, and visit through a system of software, devices, and services. For more information, please visit https://www.latch.com.
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