STAMFORD, Conn.–(BUSINESS WIRE)–SwiftConnect, a software platform provider which enables flexible work by connecting the right people to the right space at the right time today announced $9 million in funding. The round was co-led by JLL Spark Global Ventures, the strategic investment arm of commercial real estate services firm JLL, and Navitas Capital, with participation from World Trade Ventures, Concrete Ventures, Silvertech Ventures, 1414 Ventures, and NetOne, among others. This investment will fuel the company’s hiring efforts, scale the software offerings, and bolster strategic partnership opportunities with real estate companies and enterprises.
“The pandemic accelerated the need for commercial real estate companies and enterprise occupiers to rethink how they embrace the new work reality where people want to work from different locations in an on-demand way,” said Matt Kopel, President of SwiftConnect. “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. We built SwiftConnect to architect a new framework for managing and automating who can enter a given space and when – with the ultimate goals of making hybrid work frictionless, promoting productivity, saving time and money, and leveraging the smartphone or keycard already in your pocket. We are incredibly excited to be partnering in executing our shared vision with some of the most iconic names in real estate technology investing today.”
SwiftConnect solves a growing pain-point for commercial real estate owners and occupiers – the rise of the dispersed workforce and the emergence of flexible work. Recent JLL research predicts at least 30 percent of the office market will be consumed as flexible space in the next 10 years. For the first time, SwiftConnect’s software-only product provides the infrastructure necessary to power flexible and hybrid work by integrating with existing building and suite-level access control systems which typically span multiple disparate and disconnected providers.
SwiftConnect’s software consolidates these siloed systems into a single cloud-enabled network, allowing an employee anywhere in the world to use a single credential to access any location, and allowing building owners and enterprises to centrally manage the adding or deleting of credentials and setting access permissions. SwiftConnect software integrates with existing access control hardware and software, meaning owners and occupiers never have to “rip and replace” existing systems. With SwiftConnect’s simple installation, buildings can be on-line and networked in just a few hours.
“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,” said Louis Schotsky, Managing Partner at Navitas Capital. “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.”
“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,” said David Gerster, Principal at JLL Spark. “By integrating 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.”
Chip Kruger, SwiftConnect’s CEO, and Kopel previously partnered on Waltz, an access control company that was acquired by WeWork. Since SwiftConnect’s launch in June 2020, the company has formed strategic partnerships with leading real estate companies including Silverstein Properties, and is on track to be rolled out in over 50 million square feet of real estate space by the end of the year across several large building owners. The company is also working with large enterprises to assist in access management of their office fleets.
SwiftConnect’s software platform enables for both tenants and visitors seamless flexible access by automating the provisioning of access credentials across different buildings and office spaces. Regardless of location, SwiftConnect links the right people to the right office space at the right time, enabling anyone to “work from anywhere in the world.”