SmartThings has already raised $15m from investors.
Samsung is in talks with SmartThings to buy the home automation maker for $200m to compete against Google's Nest and Apple's HomeKit.
SmartThings offers IoT-based devices and a free mobile application that can connect to sensors, locks, light switches, thermostats and other compatible devices used at homes.
The devices can be controlled through mobile applications.
The $99 SmartThings Hub is considered to be the brain of the platform, which can be plugged directly into users Internet router to control lights, locks, and even send notifications when someone enters or exits into the room or opens and closes the doors.
The company also offers products like Moisture Sensor, Presence Sensor, Motion sensor, Multi sensor, GE Light & Appliance Plug-and-Control Power Outlet.
The deal has not yet been confirmed by Samsung or SmartThings yet.