SwiftConnect Raises $37 Million of Financing in Series B Round
SwiftConnect is Egis’s fourth investment in the access control space
STAMFORD, Conn., November 14, 2024 –(BUSINESS WIRE)–SwiftConnect today announced the closing of a $37 million Series B financing to expand its access network for connecting people to the right place at the right time. The company’s latest investment round is led by Quadri Ventures, with participation from new investors HID (part of ASSA ABLOY), Egis Capital Partners, and Klingenstein Fields Advisors. Returning investors include Crow Holdings, JLL Spark, Navitas Capital, Tanzola Corp., and Spring Rock Capital. In addition to expanding the company’s access network, the funding will be used to scale operations, drive geographic expansion, and support new product initiatives. SwiftConnect has raised $74 million in total funding to date.
SwiftConnect’s success is grounded in its ability to automate, centralize and digitize access management, user provisioning, and credential lifecycle management. This gives people the freedom to use their mobile access pass in NFC wallets and any other credentials to conveniently access buildings, offices and enterprise resources, amenities, and much more–regardless of the existing access control, identity management and building systems in place.
“Our Series B fundraise signals strong and ongoing investor confidence in SwiftConnect as we continue to reshape the physical access paradigm,” said Co-CEOs Chip Kruger and Matt Kopel of SwiftConnect. “As the network that powers a hassle-free experience for accessing places, spaces and things, SwiftConnect combines our vast partner ecosystem and vendor-neutral SaaS platform with our customer base of multinational organizations, iconic commercial real estate properties and portfolios, and other organizations to deliver the future of truly connected access and identity management. The new funding will continue to drive our leadership position in making seamless and secure access to anywhere possible so people can more easily access the most important things in their lives.”
“We are very excited to add SwiftConnect to our portfolio as our fourth investment in the access control space,” said Robert Chefitz, Founder and Managing Partner, Egis Capital Partners. “We were attracted to SwiftConnect because of their unique position at the intersection of physical and logical access technologies, as well as their demonstrated ability to maximize the value of installed systems based on their technical leadership in credentials and mobility. We are proud to back this excellent management team as they accelerate the growth of their global network.”