ButterflyMX, a New York-based creator of the smart intercom, a secure and convenient smartphone-based technology for residents and tenants to access their buildings, closed a $35M growth equity funding round.
The round was led by Volition Capital, with participation from Egis Capital, RiverPark Ventures and Stifel Venture Bank. As part of the investment, Roger Hurwitz and Robert Chefitz of Volition Capital and Egis Capital will join ButterflyMX’s board of directors.
The company intends to use the funds to expand into new markets and introduce new products that extend its smart intercom access experience from the front door to the rest of the building. They also expect to hire 80 new employees within the next 12 months. Including this latest round of capital, ButterflyMX has raised more than $40M since 2017.
Led by Cyrus Claffey, founder, ButterflyMX has developed a secure building entry platform that tethers cloud-based software to touchscreen hardware. The company, which aims to enable people to open and manage doors from a smartphone. To date, ButterflyMX is installed in more than 4,500 properties across the U.S. and internationally. It has been adopted in buildings developed, owned, and managed by the most trusted names in real estate, including Greystar, AvalonBay Communities, Bozzuto, CA Ventures, Lennar, Lincoln Property Company, and Equity Residential.