ButterflyMX Secures Significant Growth Equity Investment from FTV Capital

Investment will accelerate new product development while further solidifying ButterflyMX's market-leading position in the multi-tenant property access and security market

NEW YORK, Jan. 14, 2025 /PRNewswire/ -- ButterflyMX, the leading cloud-based property access platform for multifamily and commercial properties, today announced a significant growth equity investment from FTV Capital, a sector-focused growth equity firm. With nearly 17,000 buildings and 1.5 million people using ButterflyMX daily, this investment will enable expansion into new markets, accelerate new product offerings, and solidify its position as the leading provider of property access control and security solutions.

The property access control and security market has seen massive growth driven by technological advancements, evolving resident expectations, and a growing need for safety. According to data from Market and Markets, the global market for cloud-based access control is expected to surpass $15.2 billion in annual revenue by 2029. This reflects a growing demand from property owners and managers for software-enabled solutions that boost revenue, reduce operating expenses, enhance security, and improve user experiences for everyone who lives, works, or visits a property.

ButterflyMX provides an access management and security platform that helps buildings deliver better experiences while driving significant revenue and cost savings. From video intercoms and connected access control systems to security cameras and front desk management, ButterflyMX's property-wide suite of software-enabled products and services is purpose-built for property owners and managers of multifamily, commercial, student housing, HOAs, and gated communities. The company's products and solutions enable customers to manage property access remotely and automate building operations while seamlessly integrating into existing property systems.

"Since our founding nearly 10 years ago, we've grown from just a video intercom to a fully integrated suite of access control and security products and solutions that transform the property access experience from the front entrance to every door, gate, and elevator through a building," said Aaron Rudenstine, CEO of ButterflyMX. "The future of ButterflyMX will continue to focus on developing solutions that automate building operations, allowing for more affordable property ownership and management. As we continue on this journey, we're pleased to have the backing of FTV Capital, a firm with a deep understanding of both vertical software and tech-enabled hardware, a vast network of partners and advisors, and a shared vision to provide products and services that revolutionize how multi-tenant properties are owned and operated."

"Cloud-based property access solutions have become mission critical as residents increasingly demand more seamless and secure experiences and property managers look to simplify and improve operations," said Richard Liu, partner at FTV Capital. "ButterflyMX has already asserted its market leadership with best-in-class solutions that address complexities around multi-family and commercial access for tenants, building owners, and property managers. The strong market momentum and incredibly positive customer feedback we heard was a resounding testament to the company's unique value proposition and the compelling ROI it delivers. We are excited to partner closely with ButterflyMX to help the company meaningfully scale in its next chapter."

"With consistent growth, excellent unit economics, and a highly scalable model, ButterflyMX is well positioned to remain the gold standard in this market," continued Kapil Venkatachalam, partner at FTV Capital. "By being in the natural flow of key data, strategic use of AI, and leveraging an open platform that allows for seamless integration with other ecosystem players across the globe, ButterflyMX will continue to streamline operations for various types of property owners and enhance the resident experience. We look forward to partnering with Aaron and the team to drive the business forward."

As part of this growth investment, Liu, Venkatachalam, and Chris McPherson, vice president at FTV Capital, will join ButterflyMX's board of directors. Lead Edge Capital and Fifth Wall are participating as co-investors in this funding round, while existing investors JMI Equity and Volition Capital will continue to maintain their positions on the company's board of directors.

Raymond James acted as financial adviser to ButterflyMX, and Houlihan Lokey acted as financial advisor to FTV Capital. Financial terms were not disclosed.

About ButterflyMX

ButterflyMX is your complete property access and security platform, 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, 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 16,000+ multifamily, commercial, gated community, and student housing properties that have made access simple with ButterflyMX. For more information, visit www.butterflymx.com or call (800) 398-4416.

About FTV Capital

FTV Capital is a sector-focused growth equity investment firm that has raised more than $10.2 billion to invest in innovative, high-growth companies across two sectors: enterprise technology and services and financial technology and services. Founded in 1998, FTV has developed a highly differentiated and disciplined growth equity model, which leverages the firm's deep domain expertise and thematic investing approach to help portfolio companies accelerate growth. FTV also provides companies with access to its Global Partner Network®, a strategic group of more than 500 executives from many of the world's leading financial services firms and FTV Propel®, an in-house team of seasoned operational leaders who deliver counsel and resources across a range of critical business functions. For more information, please visit www.ftvcapital.com and follow the firm on LinkedIn.

Media Contacts:
ButterflyMX
[email protected]

Prosek Partners for FTV Capital
[email protected]

SOURCE ButterflyMX