Technology Insight

Level Home Acquires & Merges With Dwelo, Secures Series C Funding

Level Home announced that it has acquired and merged with Dwelo, a provider of SaaS-based smart device management platforms for multifamily properties. With the addition of Dwelo, Level now offers a smart home platform of integrated hardware and software solutions for all residential properties, including both single-family and multifamily units.

Dwelo’s software and service platform, the multifamily industry’s first, enables owners to offer smart home experiences to their residents, while optimizing their operations. Dwelo’s suite of in-unit and property-wide smart technology solutions have helped it achieve industry leadership, including a recent acquisition of Vivint’s multifamily division. With Dwelo, Level’s industry-defining locks will now be introduced to multifamily, where the Level locks’ superior experience, suitability for retrofits, and operational efficiency are expected to make them the multifamily industry’s most popular access hardware.

Adding Dwelo’s platform to Level’s consumer business creates the potential for a more modern single-family experience that can include services such as managed package delivery, self-touring, and vacation rental management.

“Today’s smart home is filled with products that lack the simplicity, design and quality customers expect,” said John Martin, Level co-founder and CEO. “To be transformative you have to offer a complete experience that integrates both hardware and a disruptive software and services platform. By welcoming Dwelo to Level, we now can offer a seamless experience of thoughtfully designed hardware with a powerful SaaS platform, giving residents incredible command, convenience, and new abilities to personalize their homes. We founded Level with the vision of reimagining the smart home, and with Dwelo, we are introducing the next generation experience for property owners and residents.”

“At Dwelo, we set out to transform the way people live and work in apartments with smart technology,” said Mike Rovito, CEO of Dwelo and, now, president at Level. “Joining Level will enable us to more readily achieve that mission. Creating the type of transformative experiences that we and our customers envision requires innovation at all levels of the product stack. Combining the Dwelo software and service platform with Level’s world-class access hardware and design prowess will enable us to offer truly unique experiences to owners, managers, and residents alike.”

In addition to the Dwelo acquisition, Level has also raised more than $100 million in a Series C round led by Cox Communications, with participation by Walmart. Level has raised a total of $171 million to date and the new capital will support continued product creation, platform development, and expand the value for residents and managers across single-family, vacation rentals and multifamily real estate.

“This investment builds on Cox’s growing IoT portfolio,” said Mark Greatrex, incoming president, Cox Communications. “It will help our Cox Communities team to continue serving as a trusted advisor to owners, management companies, builders, developers and consultants. We will be able to offer a leading-edge, integrated hardware and software platform to help the multifamily dwelling industry automate and digitally enable properties for their residents.

Level was founded in 2016 by John Martin and Ken Goto to create smart home products that are simple, intuitive and seamlessly fit into the everyday life of today’s connected consumers. The Level Lock, Touch Edition, was recently awarded Gold in the 2021 International Design Excellence Awards (IDEA), a prestigious award that recognizes products and services that encourage, inspire, and push the industry forward.

For more information, please visit: https://level.co/

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