What is ButterflyMX?
Headquartered in New York City, ButterflyMX has developed a sophisticated smart intercom system that integrates cloud-based software with an intuitive touchscreen hardware interface. This solution offers secure and convenient property access management, catering to the needs of residents, property managers, and owners alike. The company's technology streamlines the process of granting entry, enhancing both security and user experience within residential and commercial buildings.
How much funding has ButterflyMX raised?
ButterflyMX has raised a total of $85M across 2 funding rounds:
Private Equity
$35M
Series D
$50M
Private Equity (2020): $35M with participation from Egis Capital, RiverPark Ventures, Stifel Financial, and Volition Capital
Series D (2021): $50M led by JMI Equity, RiverPark Ventures, Egis Capital, and Volition Capital
Key Investors in ButterflyMX
Volition Capital
Volition Capital is a growth equity firm specializing in founder-owned, capital-efficient businesses, with a focus on technology and software sectors. They provide capital and strategic support to accelerate market leadership.
JMI Equity
JMI Equity is a growth equity firm founded in 1992, primarily investing in leading software companies. They are known for their focus on the software industry and providing growth capital.
Egis Capital
Egis Capital is an investment firm that has participated in ButterflyMX's funding rounds, contributing to the company's growth and expansion within the proptech market.
What's next for ButterflyMX?
The substantial enterprise-level backing indicates ButterflyMX is poised for significant scaling and further innovation. This capital infusion is likely to fuel expansion into new markets, enhance product development, and strengthen its competitive advantage in the smart building technology space. The company's focus on secure, smartphone-based access control positions it well to capitalize on the increasing demand for integrated smart home and building solutions.
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