Latch Announces DOOR Bug, an AI-Powered Intelligent Sensor, at ISC East 2024

DOOR Bug is the latest addition to the company’s smart sensor line up that enables customers to easily and affordably monitor their buildings.

Latch Announces DOOR Bug, an AI-Powered Intelligent Sensor, at ISC East 2024

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press@door.com

Latch, Inc., soon to be DOOR, today announced at ISC East 2024 the new DOOR Bug, a $39 AI-powered event and leak detector that monitors for running toilets, sink leaks, and other common household problems – alerting property managers about potential issues before they become expensive emergencies. In the U.S., the average cost of water damage restoration ranges from $1,300 to $5,600, making early detection with affordable IoT solutions a priority for property managers and building owners.

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The new DOOR Bug is a $39 AI-powered event and leak detector that monitors for running toilets, sink leaks, and other common household problems – alerting property managers about potential issues before they become expensive emergencies. (Photo: Business Wire)

“We are on a mission to deliver affordable innovations that enhance residential living,” said Jamie Siminoff, Doorman. “This product was inspired by a toilet running in a unit that our DOOR Property Management division oversees, which had a meaningful financial impact to the building owners. The current monitoring solutions on the market were price prohibitive, so we created our own affordable and easy-to-install solution to tackle this very acute problem and, in the future, to monitor other areas around multi-family buildings.”

DOOR Bug alerts property managers to running toilets and plumbing leaks. In the future, through software updates, the DOOR Bug hardware should be able to watch over other property systems, 24/7. With DOOR Bug’s AI, the device can be customized in the future to monitor for everything from noise disturbances to early failure warnings in the building's physical plant.

DOOR Bug works with Latch’s other smart sensors, including the Latch Leak Detector ($14.99), Latch Lasso ($17.49), Latch Temperature and Humidity Sensor ($24.99), and Latch Connected Thermostat ($99.99), providing affordable options for building owners and operators to monitor their properties. DOOR Bug is expected to be available in 2025 for $39.

The company is showcasing DOOR Bug and its entire IoT product line at Latch’s ISC East booth (#1129) this week in New York. To learn more, stop by the booth or contact Latch’s sales team at sales@door.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 www.latch.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 products, product functionality and product releases, and the related benefits to stockholders, customers, and residents. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including: the company's ability to implement, or changes in, business plans; delay or unavailability of materials or transportation capacity, experienced by the company or its suppliers; the effectiveness of installation and implementation of products by customers; and other factors outside of the company’s control. 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.