- ButterflyMX — a creator of smart video intercoms, package rooms, keypads, elevator controls, key lockers, and other access control technology for multifamily, commercial, and student housing properties — announced the closing of a $50 million growth equity round. These are the details.
ButterflyMX — a creator of smart video intercoms, package rooms, keypads, elevator controls, key lockers, and other access control technology for multifamily, commercial, and student housing properties — announced the closing of a $50 million growth equity round led by JMI Equity with participation from Volition Capital, Egis Capital, and RiverPark Ventures.
Current investor and board member Roger Hurwitz of Volition Capital also participated in this round of funding. And Robert Chefitz, ButterflyMX board member and managing partner at Egis Capital, continued the Series C investment recognizing that property security is now more important than ever.
This latest funding round will enable ButterflyMX to provide the real estate industry with its first-ever unified property access solution, designed to streamline building operations and enhance the resident experience.
ButterflyMX’s unified property access solution connects the hardware with powerful software to enable building owners, managers, residents, and visitors to open any door or gate at their property from a smartphone. And ButterflyMX’s unified property access solution consists of:
— Video intercoms for property access
— Package rooms for seamless deliveries
— Elevator controls for access to a specific floor
— Keypads for access into amenity spaces, garages, and auxiliary rooms
— Key lockers for access into apartment units with traditional locks
— Smart lock integrations for access into apartment units with smart locks
KEY QUOTES:
“Since we first introduced the smart video intercom to the world in 2015, we’ve been installed in more than 6,500 buildings and have opened over 100 million doors. Our customers love using our video intercom for property access so much that they asked us to extend that access experience beyond their front doors. This new round of funding will allow us to finally provide the real estate industry with the only unified property access solution designed to simplify access into and throughout an entire building.”
— Aaron Rudenstine, CEO of ButterflyMX
“ButterflyMX’s rapid growth, impressive list of customers and best-in-class property access solutions have cemented them as a leading company in the proptech industry. Their unified access solution has revolutionized the way the real estate industry operates. Our team is excited to support ButterflyMX as they continue to create innovative products and services that transform the way people live, work, and play in buildings.”
— Suken Vakil, General Partner at JMI Equity
“ButterflyMX’s continued growth, scale, and impressive new products have made us more excited than ever for its future. ButterflyMX revolutionized building entry with their smart video intercom and now it is doing it again with its unified access platform. We know that once real estate professionals can easily manage access throughout their entire building, they’ll benefit from increased staff efficiency, improved operations, and better resident experiences.”
— Roger Hurwitz
“With all of the delivery people and service providers that now need to access buildings, security has never been more important. ButterflyMX’s new unified access control platform is the perfect solution to manage the flow of people and packages into a property while improving security and maintaining peace of mind.”
— Robert Chefitz, ButterflyMX board member and managing partner at Egis Capital
