- Openpath has received an investment from Allegion Ventures
Openpath has received an investment from Allegion Ventures, which is a $50 million corporate venture fund of Allegion plc. Openpath is a leading mobile access control solution with a next-generation and cloud-based technology for the built world. Allegion Ventures president and Allegion Chief Innovation and Design Officer Rob Martens and Allegion pointed out that Openpath aligns with the venture fund’s access-as-a-service focus and will be a strong technology partner for the company.
These two organizations are also planning a strategic technology partnership to offer customers a seamless security experience beyond the entryway along with the frictionless access Openpath offers today.
As an investor and technology partner Allegion Ventures is able to help Openpath grow through expertise and experiences in seamless access and people flow, building codes and specification, mobile applications, channel distribution, global market penetration, etc.
Openpath is on a mission to improve workplace efficiency and security. And the company creates smart and secure access systems for the modern office. The company’s flagship product is called Openpath Access — which combines hardware with an app. This tool enables employees to enter the office using their smartphones. Plus it uses encryption at every level.
Key Quotes:
“Openpath is leading with technology to solve customer problems – and that’s something we eagerly embrace at Allegion. The possibility of aligning the products of an established Allegion brand like Schlage® with Openpath in the future could create new value in access that goes beyond an entryway door and throughout a connected environment. The outcome of such a powerful solution that uses edge devices and automation without compromising security would be not only a seamless experience for enterprise customers, but also an acceleration of momentum in users’ mobile technology adoption.”
-Allegion Ventures president and Allegion Chief Innovation and Design Officer Rob Martens
“We are excited to be a part of the Allegion Ventures portfolio. Innovating alongside a major global player in the safety and security industry is a welcomed experience, especially as we have complementary solutions and share a passion for creating unparalleled customer experiences.”
-Openpath’s co-founder and CEO Alex Kazerani
