SwiftConnect Closes $17M in a Series-A
The company looks to further expand into Europe and Australia and boost its customer accounts, professional services, and engineering teams.
SwiftConnect, which provides infrastructure to manage physical access to flex spaces, announced that it closed a $17 million Series-A fundraising round. Leading the round were JLL Spark Global Ventures and Navitas Capital. Also participating were Bridge Investment Group, Crow Holdings, Cushman & Wakefield, Jamf, Nuveen, World Trade Ventures and 1414 Ventures.
With the previous $10 million that it raised, SwiftConnect looks to expand further into Europe and Australia. The company also plans to grow its customer accounts, professional services, and engineering groups.
The company says that it manages physical real estate access control and permissions, allowing employees, contractors, and others to be able to book and access space. That could be for a headquarters, satellite office, or flex space. SwiftConnect claims that companies can leave existing access hardware and software in place with no need to “rip and replace” for implementation. The systems have “software-only integrations with most access control systems.” That would remove a significant hurdle to adoptions.
“Any owner or property manager can turn their siloed and separate buildings into a network of assets,” SwiftConnect says. “Tenants can benefit from amenities, services, and flex spaces across the whole portfolio, not just their building.”
The promise of being able to manage access and levels of use like a network should mean that many of the practices and types of credentialing and control that IT departments use would now have parallels in physical security.
SwiftConnect says that it has a “universal provisioning” software developer’s kit, or SDK, “for obtaining mobile credentials from multiple providers without the hassle and upkeep of multiple integrations into the same mobile application.” Application programming interfaces allow a company to “automate your access provisioning workflows, and easily iterate as your business grows and changes.”
There are pre-existing integrations with many popular access system vendors’ products, like those from Honeywell, AMAG Technology, HqO, Genetec, and Software House.
“According to JLL research, at least 30 percent of the office market will be consumed as flexible space in the next 10 years,” the release says. “To take advantage of this market growth opportunity, SwiftConnect’s cloud-based platform simplifies and streamlines the management of building access. The software removes the logistical headache of harmonizing across multiple, disconnected providers since it seamlessly integrates with dozens of existing building and suite-level access control systems.”