SwiftConnect, a Stamford-based property technology startup that provides digital access to buildings, said Thursday it has closed a $37 million Series B financing round.
The company last raised $10 million in an oversubscribed Series A funding round that closed in October 2023. To date, SwiftConnect has raised a total of $74 million.
The company’s latest investment round was led by Quadri Ventures, with participation from new investors HID (part of ASSA ABLOY), Egis Capital Partners and Klingenstein Fields Advisors. Returning investors included Crow Holdings, JLL Spark, Navitas Capital, Tanzola Corp. and Spring Rock Capital.
Proceeds from the funding round will be used to expand the company’s access network, as well as to scale its operations, expand geographically and support new product initiatives, the company said.
SwiftConnect is the first and largest deployer of “employee badge” credentials in Apple Wallet. The technology works similarly to Apple Pay on iPhones or Apple watches. Instead of tapping a device to make a payment, authorized users can use their badges in Apple Wallet to gain entry into an office or apartment building.
Founded in 2020 by co-CEOs Chip Kruger and Matt Kopel, SwiftConnect had grown its customer base to nearly 50 by the end of 2023, they said. The company said Thursday that its current customer base represents a potential opportunity of over 1 billion square feet of office space and more than 2 million users.
