SwiftConnect, a Stamford, Conn.-based provider of connected access enablement solutions, announced the closing of a $37 million Series B financing.
The company’s latest investment round is led by Quadri Ventures, with participation from new investors HID (part of ASSA ABLOY), Egis Capital Partners, and Klingenstein Fields Advisors. Returning investors include Crow Holdings, JLL Spark, Navitas Capital, Tanzola Corp., and Spring Rock Capital.
“We have been excited to follow SwiftConnect’s growth over the years and now, as an investor, are happy to support their continued development of technology for seamless access experiences,” said Björn Lidefelt, EVP and Head of HID. “This investment demonstrates our commitment to accelerating the adoption of mobile access technology and credentials across a variety of industries and use cases.”
In addition to expanding the company’s access network, the funding will be used to scale operations, drive geographic expansion, and support new product initiatives. SwiftConnect has raised $74 million in total funding to date, according to the announcement.
SwiftConnect says that its success is attributed to its ability to automate, centralize and digitize access management, user provisioning, and credential lifecycle management. This is said to give people the freedom to use their mobile access pass in NFC wallets and any other credentials to conveniently access buildings, offices and enterprise resources, amenities and more, regardless of the existing access control, identity management and building systems in place.
SwiftConnect’s market traction includes:
- Deployments of NFC wallets for access at Fortune 100 organizations, leading pharmaceutical companies, multiple global financial institutions, multinational professional services companies, and some of the world’s largest technology companies.
- Rapid international expansion with notable European corporations as well as prestigious buildings and portfolios, such as British Land properties, 8 Bishopsgate in London, and MARK’s 60 Dawson Street in Dublin.
- Continued leadership in the U.S. with the industry’s first deployment of corporate badge in Google Wallet, following the world’s first deployment of NFC wallet for access at Silverstein’s 7 World Trade Center, as well as implementations across multiple properties in the Hines portfolio, Bridge Commercial Real Estate properties, and numerous other buildings.
Following on from SwiftConnect’s acquisition of Detrios, the company recently purchased U.K.-based FlitchTech to expand its ability to provide highly complex access control integration services across multiple continents, while increasing its footprint in the higher education vertical. SwiftConnect has also extended its expertise into the high-end multifamily rental market and has completed deployments in North America.
