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DOOR Agrees to Deal with block.a to Bring Self-Guided Touring and Leasing to DOOR Services

By: via Business Wire

block.a’s technology streamlines the resident touring process, making it more efficient and engaging for both property managers and prospective tenants.

Latch, Inc., soon to be DOOR, today announced it has agreed to a deal with block.a, a platform that uses advanced technology to automate and enhance the entire resident touring experience, including scheduling and follow-up, to save time and improve prospect conversion rates. DOOR expects to integrate block.a’s technology into DOOR Services, along with the HelloTech platform, to bring full-service amenities to multifamily buildings, including self-guided touring and leasing.

“We’re excited about the possibilities block.a’s technology brings to DOOR Services,” said Jamie Siminoff, Chief Doorman at DOOR. “In June, we released a video outlining our vision for the future of multi-family with DOOR, and since then launched DOOR Services and acquired HelloTech, a company that specializes in on-demand installation and tech support services. This deal with block.a adds yet another critical piece to the DOOR vision.”

block.a was created to make touring seamless and stress-free for everyone involved. The end-to-end leasing platform built upon the company’s proprietary technology has been facilitating self-tours and apartment leases across the country since its founding in 2020. By integrating block.a into DOOR Services, property managers will have even more possibilities when it comes to improving resident experiences.

“We’re thrilled to support DOOR’s mission and believe the block.a platform will be a valuable addition to DOOR Services,” said Erez Cohen, CEO of block.a. “By integrating block.a’s platform, DOOR will further provide top-notch solutions to its customers and enable properties across the country to ensure easy touring and leasing experiences.”

DOOR and block.a anticipate that the transaction will close on October 1, 2024, subject to finalizing definitive agreements.

About DOOR

DOOR is on a mission to enhance the residential living experience with its DOOR app, which will bring 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.

About block.a

block.a delivers an AI-powered secure, keyless self-touring experience by streamlining the prospect communication and touring process and offering real-time analytics and actionable insights. Learn more at www.blocka.com.

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 contemplated transaction with block.a; the integration of block.a’s technology into the company’s existing business and operations; the company’s product and service offerings, performance, and operations, and the related benefits to stockholders, customers, and residents; and the company’s branding and strategy. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including: the risk that the transaction, which is subject to finalization of terms and conditions, may not be completed in a timely manner or at all; the risk that the transaction may involve unexpected costs, liabilities, or delays; the effect of this announcement or the transaction on the company’s operations and relationships with customers, suppliers, and personnel; the company’s ability to implement business plans; changes and developments in the industry in which the company competes; and the company’s ability to timely complete the ongoing restatement of its consolidated financial statements. Many factors could cause actual future events to differ materially from the forward-looking statements in this release. 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 Securities and Exchange Commission (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.

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