SwiftConnect, a Stamford, Conn.-based provider of connected access enablement solutions, announced it has raised $10 million in a post-Series A funding round.
Cloud-focused global venture fund Quadri Ventures was the principal investor in the round, which included new and existing venture and high-net-worth investors in SwiftConnect.
“Our latest round of funding illustrates the excitement our existing and new investors have in SwiftConnect, stated Chip Kruger, co-CEO of SwiftConnect. “This would not have been possible without our excellence in engineering and the great experience our Fortune 100 customers, major U.S. and U.K. landlords, and leading advisory, investment, and legal firms have with our solutions.”
SwiftConnect said it plans to use the additional fundraise to extend its global footprint and continue expanding its customer experience teams in step with its portfolio of major enterprises and buildings. The three-year-old company claims its mobile-based NFC solution is live in over 80 million square feet of commercial real estate space across dozens of commercial real estate buildings and enterprises, while its current customer base represents a potential opportunity of over 750 million square feet of office space and more than one million users.
SwiftConnect was the first to deploy NFC mobile credentials for connected access at Silverstein’s 7 World Trade Center in New York City. Other end customers are said to include a global financial services company with approximately 75,000 employees in nearly 50 countries; a biopharmaceutical company with over 80,000 employees in over 180 countries; and an enterprise application software firm with over 100,000 employees across 150 countries.
Andrew Drylie, investment manager at Quadri Ventures, stated SwiftConnect’s enterprise-grade offering has proven to meet and exceed the rigid requirements of financial services institutions and customers in other heavily regulated industries.
“What sets SwiftConnect apart is the combination of its incredible product market fit plus the company’s impressive traction with large multinational enterprises and its solid footprint in corporate real estate buildings,” Drylie said. “We believe that the sheer number of their signed contracts with major enterprises validates that SwiftConnect is built to deliver a sophisticated solution that extends beyond proptech.”
