ButterflyMX, a cloud-based property access platform for multifamily and commercial properties, announced a significant growth equity investment from FTV Capital. And with nearly 17,000 buildings and 1.5 million people using ButterflyMX daily, this funding will enable expansion into new markets, accelerate new product offerings, and solidify its position as the leading provider of property access control and security solutions.
The company offers an access management and security platform that helps buildings deliver better experiences while driving significant revenue and cost savings. And from video intercoms and connected access control systems to security cameras and front desk management, ButterflyMX’s property-wide suite of software-enabled products and services is purpose-built for property owners and managers of multifamily, commercial, student housing, HOAs, and gated communities.
ButterflyMX’s products and solutions enable customers to manage property access remotely and automate building operations while seamlessly integrating into existing property systems.
As part of this growth funding, Liu, Venkatachalam, and Chris McPherson, vice president at FTV Capital, will join ButterflyMX’s board of directors. And Lead Edge Capital and Fifth Wall are participating as co-investors in this funding round. At the same time, existing investors JMI Equity and Volition Capital will continue to maintain their positions on the company’s board of directors.
Raymond James acted as financial adviser to ButterflyMX, and Houlihan Lokey acted as financial advisor to FTV Capital. The financial terms were not disclosed.
KEY QUOTES:
“Since our founding nearly 10 years ago, we’ve grown from just a video intercom to a fully integrated suite of access control and security products and solutions that transform the property access experience from the front entrance to every door, gate, and elevator through a building. The future of ButterflyMX will continue to focus on developing solutions that automate building operations, allowing for more affordable property ownership and management. As we continue on this journey, we’re pleased to have the backing of FTV Capital, a firm with a deep understanding of both vertical software and tech-enabled hardware, a vast network of partners and advisors, and a shared vision to provide products and services that revolutionize how multi-tenant properties are owned and operated.”
- Aaron Rudenstine, CEO of ButterflyMX
“Cloud-based property access solutions have become mission critical as residents increasingly demand more seamless and secure experiences and property managers look to simplify and improve operations. ButterflyMX has already asserted its market leadership with best-in-class solutions that address complexities around multi-family and commercial access for tenants, building owners, and property managers. The strong market momentum and incredibly positive customer feedback we heard was a resounding testament to the company’s unique value proposition and the compelling ROI it delivers. We are excited to partner closely with ButterflyMX to help the company meaningfully scale in its next chapter.”
- Richard Liu, partner at FTV Capital
“With consistent growth, excellent unit economics, and a highly scalable model, ButterflyMX is well positioned to remain the gold standard in this market. By being in the natural flow of key data, strategic use of AI, and leveraging an open platform that allows for seamless integration with other ecosystem players across the globe, ButterflyMX will continue to streamline operations for various types of property owners and enhance the resident experience. We look forward to partnering with Aaron and the team to drive the business forward.”
- Kapil Venkatachalam, partner at FTV Capital
