Digital Lock Startup Raises $70 Million Behind Push From Homebuilder

Funding from Brookfield Ventures values Latchable at more than $250 million

Doors are opening for makers of keyless locks.

Companies that manufacture smart locks—which can be opened with a cellphone app or code and sometimes include cameras and intercoms—are battling to edge out traditional locks. Growth is being pushed by online retailers, delivery companies and real-estate firms seeking to make residences more easily accessible for maintenance staff, package carriers and tenants.

In...