Latch, Inc. LTCH

Company Overview

Latch, Inc. operated in the property technology (“proptech”) and smart-building infrastructure industry, developing hardware and software systems designed for residential and commercial real estate operators. The company’s platform combined smart locks, cloud-based access management, building operating software, and resident-facing applications intended to support keyless entry, delivery management, guest access, and property operations. Its primary customers included multifamily apartment owners, developers, property managers, and institutional real estate operators across the United States.

The company generated revenue primarily through sales of smart access hardware, software subscriptions, installation services, and ongoing platform support contracts. Latch positioned itself as an integrated full-building operating system rather than a standalone lock manufacturer, seeking to differentiate through unified software, recurring SaaS revenue, and long-term relationships with real estate owners. Founded in 2014 by Luke Schoenfelder and partners, the company expanded rapidly during the broader adoption of connected-building technologies and became publicly traded through a SPAC merger in 2021 under the ticker LTCH. Public filings and industry reporting later indicated operational restructuring, financial challenges, and leadership changes as the company attempted to stabilize operations and improve execution.