The Scottsdale, Arizona-based company is merging with Fifth Wall Acquisition Corp. I, the special purpose acquisition company created by prominent proptech venture capital firm Fifth Wall.
“It was abundantly clear to us that SmartRent has emerged as the clear category winner,” Brendan Wallace of Fifth Wall said in an interview.
SmartRent makes both software and hardware to manage smart devices in multifamily communities. Property owners use SmartRent’s technology to remotely control things like thermostats and lights.