ButterflyMX Secures $50 Million in Series D Funding Led by JMI Equity
Investment Enables ButterflyMX to Provide Real Estate Industry with its First-Ever Unified Property Access Solution
Since closing its Series C in September 2020, ButterflyMX has raised a total of $100 million, grown to 180 employees, and been installed in all 50 states and throughout Canada.
NEW YORK, Dec. 7, 2021 /PRNewswire/ -- ButterflyMX, creator of smart video intercoms, package rooms, keypads, elevator controls, key lockers, and other access control technology for multifamily, commercial, and student housing properties, today announced the closing of a $50 million growth equity round led by JMI Equity, with participation from Volition Capital, Egis Capital, and RiverPark Ventures. This latest round of funding will allow ButterflyMX to provide the real estate industry with its first-ever unified property access solution, designed to streamline building operations and enhance the resident experience.
"Since we first introduced the smart video intercom to the world in 2015, we've been installed in more than 6,500 buildings and have opened over 100 million doors," said Aaron Rudenstine, CEO of ButterflyMX. "Our customers love using our video intercom for property access so much that they asked us to extend that access experience beyond their front doors. This new round of funding will allow us to finally provide the real estate industry with the only unified property access solution designed to simplify access into and throughout an entire building."
ButterflyMX's unified property access solution connects sleek hardware with powerful software to enable building owners, managers, residents, and visitors to open any door or gate at their property from a smartphone.
ButterflyMX's unified property access solution consists of:
- Video intercoms for property access
- Package rooms for seamless deliveries
- Elevator controls for access to a specific floor
- Keypads for access into amenity spaces, garages, and auxiliary rooms
- Key lockers for access into apartment units with traditional locks
- Smart lock integrations for access into apartment units with smart locks
These devices are easily managed through the ButterflyMX OS, a user-friendly online platform where property administrators can adjust access permissions, view entry photos, and integrate dozens of other popular technology solutions such as property management systems, security cameras, and other access control devices.
With ButterflyMX, property owners and managers will finally have a single platform to control access into and throughout their entire building. Instead of purchasing various pieces of hardware, connecting them with expensive wiring, and managing it all through multiple systems, they can now rely on one simple, unified solution. By enabling property owners and managers to control building-wide access from their smartphone or computer, ButterflyMX increases their productivity, reduces operating costs, and empowers staff to deliver better resident experiences.
Lead investor JMI Equity, which has a long track record of backing transformational software companies and helping them scale into industry leaders, sees a shift in real estate coming.
"ButterflyMX's rapid growth, impressive list of customers and best-in-class property access solutions have cemented them as a leading company in the proptech industry. Their unified access solution has revolutionized the way the real estate industry operates," noted Suken Vakil, General Partner at JMI Equity. "Our team is excited to support ButterflyMX as they continue to create innovative products and services that transform the way people live, work, and play in buildings."
Eager to help improve building operations for owners and managers, current investor and board member Roger Hurwitz of Volition Capital also participated in this round of funding.
"ButterflyMX's continued growth, scale, and impressive new products have made us more excited than ever for its future. ButterflyMX revolutionized building entry with their smart video intercom and now it is doing it again with its unified access platform," described Hurwitz. "We know that once real estate professionals can easily manage access throughout their entire building, they'll benefit from increased staff efficiency, improved operations, and better resident experiences."
Robert Chefitz, ButterflyMX board member and managing partner at Egis Capital, continued his Series C investment recognizing that property security is now more important than ever.
"With all of the delivery people and service providers that now need to access buildings, security has never been more important," explained Chefitz. "ButterflyMX's new unified access control platform is the perfect solution to manage the flow of people and packages into a property while improving security and maintaining peace of mind."
About ButterflyMX
ButterflyMX is your complete property access solution, providing a secure, convenient, and cost-effective way to manage and grant access on the go. Empower your tenants to open doors, gates, and elevators with a smartphone and ensure they never miss a visitor or delivery. Enjoy easy installation and cut costs by eliminating building wiring and in-unit hardware, and save time by integrating with popular access control and property management systems. Join the 6,500+ multifamily, commercial, gated community, and student housing properties that have made access simple with ButterflyMX.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 170 businesses in its target markets, successfully completed over 110 exits, and raised more than $6 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
About Volition Capital
Volition Capital is a Boston-based growth equity firm that principally invests in high-growth, founder-owned companies across the software, Internet, and consumer sectors. Founded in 2010, Volition has over $1.1 billion in assets under management and has invested in over 30 companies in the United States and Canada. The firm selectively partners with founders to help them achieve their fullest aspirations for their businesses. Learn more about Volition Capital at www.volitioncapital.com
About Egis Capital
Egis is a private equity firm that makes control-oriented buyout and growth investments in technology-driven businesses in the Security and Protection industry. Egis is focused on partnering with companies that can benefit from its industry knowledge, operational and financial expertise, C-level relationships, and a proactive ownership model. For more information, visit www.egiscapitalpartners.com
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SOURCE ButterflyMX
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