SwiftConnect Closes $17 Million Series A Financing to Scale Access Control Integration Platform for Hybrid Workplaces in Corporate Real Estate
Round co-led by tech investors JLL Spark Global Ventures and Navitas Capital; SwiftConnect to advance leadership in mobile credential technologies
STAMFORD, Conn., Oct. 26, 2022 /PRNewswire/ -- SwiftConnect, an award-winning software platform provider that enables flexible work by connecting the right people to the right space at the right time, today announced that it has closed its $17 million Series A round of financing. The round was co-led by real estate tech investors JLL Spark Global Ventures and Navitas Capital, with participation from Bridge Investment Group,Crow Holdings, Cushman & Wakefield, Jamf, Nuveen, World Trade Ventures and 1414 Ventures.
Founded in 2020, SwiftConnect has raised $27 million in total funding. The investment will allow SwiftConnect to further scale its customer success, professional services and engineering teams. The new funding will also support the company's geographic expansion in Europe and Australia.
"The participation of these standard-setting strategic investors is an affirmation of the value, traction and importance of the SwiftConnect platform in the marketplace for managing physical access control," said Chip Kruger and Matt Kopel, Co-Founders of SwiftConnect. "The investment further validates SwiftConnect's vision and provides the foundation for our continued leadership in deploying NFC-based mobile credentials as the need for flexible workplaces continues to evolve. This unique value we deliver is why leading commercial real estate and enterprise brands have chosen to adopt our platform."
The company recently announced a strategic alliance with Microsoft to transform places where people work and was named the 2022 Grand Prize Winner, Emerging Startup category, in the prestigious Real Estate Tech Awards (RETAs). Earlier this year, SwiftConnect was a core part of deploying NFC mobile credentials at Silverstein Properties' 7 World Trade Center in New York City.
In addition, JLL Spark Global Ventures is strategically partnering with SwiftConnect to deploy SwiftConnect's software across select asset owners and enterprise tenants from JLL's global client base, which includes 600 customers in more than 130 countries. Over six billion square feet is managed in deployed systems within JLL's real estate portfolio.
Insights from Investors- Laurent Grill, Partner at JLL Spark Global Ventures: "SwiftConnect continues to increase momentum at an exponential pace, and the Series A financing will help solidify their position of being the de facto network for accessing and enabling intelligent, flexible workplaces."
- Travis Putnam, Managing Partner at Navitas Capital: "Since Navitas Capital first invested, SwiftConnect has become the standard utility for access control amongst owners, operators and occupiers of commercial real estate. The incredible team and innovative platform have helped forge partnerships with major technology customers and drive successful deployments across many major owner portfolios and enterprise office fleets. We are excited to see this new capital allow execution of SwiftConnect's vision as they grow their capabilities and expand into new markets."
- Jake Mosey, VP of Business Development and Integrations at Jamf: "We're excited about the work SwiftConnect is doing to help organizations modernize their workplace through its unique technology. Jamf is proud to be the flagship tech investor to help SwiftConnect continue its success innovating in the connection of access control systems with mobile credential platforms and other systems that influence physical access requirements."
- Jeanne Casey, Global Head of Proptech and Innovation at Nuveen: "SwiftConnect is addressing a strong market opportunity in commercial real estate with the right technology that dramatically simplifies how tenants access and interact with buildings, while increasing operational efficiency at the same time. With its agility to innovate based on the challenges faced by building owners all over the world, we believe SwiftConnect has the potential for immense scale and geographic expansion, which aligns with our broad coverage across multiple markets."
According to JLL research, at least 30 percent of the office market will be consumed as flexible space in the next 10 years. To take advantage of this market growth opportunity, SwiftConnect's cloud-based platform simplifies and streamlines the management of building access. The software removes the logistical headache of harmonizing across multiple, disconnected providers since it seamlessly integrates with dozens of existing building and suite-level access control systems. SwiftConnect goes a step further to consolidate these existing, siloed systems into a unified cloud-enabled network and dashboard for building owners and enterprises to efficiently manage user records, access permissions and credentials. This means employees anywhere in the world can instantly use their smartphone, wearable or keycard to access any location, and building owners never have to "rip and replace" existing systems.
About SwiftConnectSwiftConnect's software platform enables seamless flexible access by automating the provisioning and lifecycle management of access credentials across different buildings and office spaces. Regardless of location, SwiftConnect links the right people to the right office space at the right time, enabling anyone to work from anywhere in the world. For more information, visit Swiftconnect.io
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