NEW YORK, April 11, 2019 /PRNewswire/ -- ButterflyMX, creator of the smart intercom, announced today that more than 1 in 3 U.S. multifamily residential properties built in Q1 2019 chose ButterflyMX for their property access needs. Additionally, less than four years from its commercial launch, ButterflyMX's total install base has crossed 250,000 units.
"We're thrilled with the real estate industry's acceptance and rapid adoption of ButterflyMX," said Cyrus Claffey, co-founder, and CEO. "We pride ourselves on delivering the best property access solution for everyone: tenants enjoy a rich building entry experience along with seamless visitor management; property managers benefit from increased security and operational improvements; developers and owners can deliver a tech-forward amenity with lower installation and maintenance costs than traditional systems."
During the first quarter of 2019, 35 percent of multifamily new builds, as well as buildings undergoing acquisition or renovation, chose ButterflyMX as their building entry system. This market share is up meaningfully from 28 percent in 2018. Furthermore, among those buildings that selected cloud-based video intercoms, ButterflyMX was chosen 9 times out of 10. More than 2,500 ButterflyMX smart intercoms are now installed across all 50 states. ButterflyMX prides itself on simple, low-cost installation, which has been a critical driver of its adoption in existing buildings as well.
A ButterflyMX smart intercom can be installed in just a few hours and requires only three connections: power, internet, and door strike, eliminating the need for additional building wiring and in-unit hardware that traditional video intercoms require. And because of ButterflyMX's industry-first open API, integrations with leading property management systems (PMS) including Yardi and RealPage have already been completed. Allowing all of the time-consuming resident directory setup and updates typically done by an installer, to automatically occur whenever a resident change occurs in the PMS.
ButterflyMX's open API isn't only useful during installation; it also enables ButterflyMX to integrate with other third-party proptech vendors. For example, residents in ButterflyMX buildings can grant managed access to couriers, dog walkers, house cleaners, and other service providers. To ensure property security is maintained, the intercom takes a time- and date-stamped photo of every visitor, which is stored for 365 days in a web-based management portal. ButterflyMX's rapid growth has also allowed it to address other challenging areas of property access, specifically key-fobbed elevators.
Installed as a mechanism for enhanced resident security, key-fobbed elevators have become a nuisance in recent years primarily due to the growth of online service providers. With residents ordering more services online than ever before, buildings have become inundated with visitors who need access beyond just the front door. Currently, key-fobbed elevators require a resident to either meet the visitor in the lobby or a property manager to grant temporary elevator access. ButterflyMX has solved this inconvenience by granting elevator access when a visitor uses their smart intercom, creating a 'sidewalk-to-sofa' property access experience at buildings where it is installed. This complementary technology has been recognized by many of ButterflyMX's customers as a game changer in resident convenience and is already installed in hundreds of properties.
"We're delighted that after having delivered a revolutionary building entry solution, we're now being sought out by our partners to solve access challenges inside their buildings," said Claffey. "As a technology-first organization, we have innovation in our DNA and look forward to creating more exciting access solutions for our customers in the future."
ButterflyMX, creator of the smart intercom, has developed the most secure and convenient building entry platform that tethers cloud-based software to intuitive touchscreen hardware. Our mission is to facilitate convenient and verified entry for people in the built world. To date, ButterflyMX has facilitated more than 10 million door release transactions and is installed in more than 2,500 properties across the U.S. and internationally. ButterflyMX has been adopted in buildings developed, owned and managed by the most trusted names in real estate, including Greystar, AvalonBay Communities, Bozzuto, CA Ventures, Lennar, Lincoln Property Company and Equity Residential. The company is headquartered in New York City. Learn more at www.butterflymx.com.
VP of Strategic Initiatives & Partnerships