SwiftConnect Secures $37 Million in Series B Funding to Expand Access…

Team S · 2024-11-18T13:32:54.000Z

SwiftConnect, a Stamford, Connecticut-based company specializing in digital access management, has successfully closed a $37 million Series B financing round. The funding will be used to expand the company's access network, which connects people to the right places at the right time. The investment round was led by Quadri Ventures, with participation from new investors including HID (part of ASSA ABLOY), Egis Capital Partners, and Klingenstein Fields Advisors. Existing investors such as Crow Holdings, JLL Spark, Navitas Capital, Tanzola Corp., and Spring Rock Capital also contributed to the round. SwiftConnect's total funding now stands at $74 million. The company plans to use the new capital to scale operations, drive geographic expansion, and support new product initiatives. The firm's AccessCloud platform integrates various technologies to provide seamless access management across multiple locations worldwide. Co-CEOs Chip Kruger and Matt Kopel expressed confidence in the company's future, highlighting SwiftConnect's role in reshaping the physical access paradigm. The company's client base includes multinational organizations and commercial real estate properties, representing a potential opportunity of over a billion square feet of office space and more than two million users. As part of its growth strategy, SwiftConnect recently acquired UK-based FlitchTech to enhance its integration capabilities and expand its presence in the higher education sector. The company has also made inroads into the high-end multifamily rental market in North America. With this latest funding round, SwiftConnect aims to solidify its position as a leader in connected access and identity management, providing users with convenient and secure access to buildings, offices, and various resources through mobile devices.

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SwiftConnect Secures $37 Million in Series B Funding to Expand Access… | Newnex