Stamford-based property technology startup SwiftConnect has successfully raised $10 million in funding, marking a significant milestone in its mission to revolutionize access management in apartment and office buildings. SwiftConnect offers a cutting-edge solution by providing digital access through Apple Wallet’s “employee badge” credentials, a technology likened to Apple Pay for secure and convenient entry into authorized spaces.
Revolutionizing Access Management:
SwiftConnect distinguishes itself as the first and largest deployer of “employee badge” credentials in Apple Wallet. The innovative technology simplifies access to office or apartment buildings, leveraging the same secure and user-friendly principles as Apple Pay on iPhones or Apple Watches. Authorized users can effortlessly gain entry by utilizing their badges within Apple Wallet, eliminating the need for physical access cards or traditional key systems.
Funding and Growth Trajectory:
The recent $10 million funding injection positions SwiftConnect for significant expansion. The startup plans to add approximately a dozen new employees and further support its growing client base. Since its establishment in 2020 by co-CEOs Chip Kruger and Matt Kopel, SwiftConnect has experienced remarkable growth. From just three or four clients 18 months ago, the company now boasts nearly 50 clients as of the end of 2023.
Unprecedented Deployment:
SwiftConnect’s technology has already made a substantial impact, currently being utilized in over 80 million square feet of commercial real estate space across numerous buildings and enterprises. Among its notable clients are Silverstein Properties, owner of the iconic 7 World Trade Center in New York City, Hines Global Real Estate based in Houston, and Boston developer and landlord BXP, renowned for owning the 59-story Manhattan office building at 601 Lexington Ave.
The Apple Wallet Advantage:
SwiftConnect’s strategic integration with Apple Wallet provides a seamless and secure experience for users and property owners alike. The deployment of “employee badge” credentials in this digital format enhances security measures while offering a convenient and modern alternative to traditional access methods.
Co-Founder’s Vision:
Co-CEO Chip Kruger expressed enthusiasm about the funding and the company’s trajectory, stating that SwiftConnect’s technology is reshaping the landscape of access management. The additional workforce and resources enabled by the funding will empower SwiftConnect to continue delivering innovative solutions to its clients.
Future Prospects:
With the newly acquired funds, SwiftConnect is poised for continued growth and innovation. The expansion of its workforce and client base signifies the increasing demand for modern and secure access management solutions in the property sector. As the company advances, SwiftConnect is likely to play a pivotal role in shaping the future of digital access technologies within the real estate industry.