JLL Spark leads SwiftConnect fundraise
Citing a “significant opportunity to scale adoption” amid the growth of hybrid working, JLL Spark has co-led a $9m fundraising round for software that connects access control across buildings around the world.
SwiftConnect consolidates existing building and suite-level access control systems into a single network, which allows landlords to manage security at all of their locations in one place.
As businesses experiment with and adopt hybrid working, the software also allows employees to access any location anywhere in the world with a single credential.
SwiftConnect integrates with existing access control hardware and software.
Matt Kopel, president of the startup, said that the pandemic had accelerated the need to rethink working, but that companies still lacked a way to do that.
He said: “While many companies are focusing on installing flexible space and adjusting their amenities to be Covid-friendly, they’re still lacking the basic tools to manage access to these new spaces and operate them as a network, not a series of siloed assets.”
SwiftConnect was created as a “new framework” for managing and automated who can enter a given space and when, Kopel said.
The funding round was led by JLL Spark Global Ventures and Navitas, with participation from World Trade Ventures, Concrete Ventures, Silvertech Ventures, 1414 Ventures and NetOne among others.
David Gerster, principal at JLL Spark, said: “As companies search for the right technology partners for the hybrid workplace, SwiftConnect has a significant opportunity to scale adoption of its unified cloud system for seamless office access control.
“By integrated with existing systems, SwiftConnect is well positioned to offer real estate owners and occupiers a flexible, friendly user experience for accessing buildings that solves many of the pain points they face today.”
The investment will fund SwiftConnect’s expansion in its team, software and partnerships with real estate companies and occupiers.
Louis Schotsky, managing partner at Navitas Capital, said: “Navitas is thrilled to back SwiftConnect’s vision of a cloud-based access control utility for the real estate industry. The team and product architecture represent a unique software-only approach and a deep understanding of the problem facing owners, operators, and occupiers of commercial real estate assets today.
“The optionality that SwiftConnect provides creates an opportunity for forward thinking owners and operators to capture a disproportionate share of the shifting demand from occupiers. We consider ourselves lucky to have the opportunity to back this combination of vision, experience, and opportunity.”