ButterflyMX Raises $35 Million

By Joey Walter, Published on Sep 30, 2020

Startup ButterflyMX has raised $35 million for its smartphone based intercom systems, planning to add 80 employees and expand its product line with the funding.

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What will they do with the funding to keep growing? How do they compare with other smart entry companies?

For a full list of Video Intercom or Video Entry System players, see our Directory of Video Intercoms.

Background ***********

*** *** **** **** based ******* *** ******* in ****, ****** ********* ****** ** LinkedIn.

*** **-********,***** ***************** *****, ********** ****** ** other ********* ********* ********** infrastructure (*****/*****, **** **********) and **** ** **** estate *** ********** **********, which *********** ******** ** the ******** *** ******** sides ** ****** ********.

*** ******* ****** ** have *,*** ******** ******** across *** ** *** internationally, **** **** ****** clients ****** ******** *********** across *** *******.

Smart ******** ********

*********** ** *** *** only ******* ******* ** the ***** ******** *******. Similar ** ***** ***** entry *********, **** ***** intercoms, ****** ******* ********, and ********, **-******** ********* e.g. ******** *******, ******* room, *** ***** ****.

********* ********* ** *" and **.*" *****, **** ***** *" touch ****** ******** ****** at **** $*,*** *** being**** ****** *** $*,***.

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**** ** ****** **** illustrates *** * ****** enters * ******** ******* a *** ** ***:

*** **-*******, ***** *******, also ******** ************* *************** ** *****-****** *****, ******* *** *********** benefits ** ***** *********** for *** ****** **** so **** *** ******* entering *** ********, ** allowing **** ** ***** temporary ****** **** * smartphone:

Large ******** ***** *****

***** * ******* **** Proxy*** ******* ** ***** enterprise *** ********** **** estate *********, *********** ** ********* focused ** ***** ********* but ** *** *********** side ** *** ****** base.

**** **** ***** ** residential *****-****** ********** *** high ***** *********, *** growth ********* *** *********** is ******** *** ****** risks.

** *** ****, **** despite *** ********, ***** customers *** ****-**** **** estate ********* *** **** an ********* ** ********* their ***** ********* ** younger ******* ****** ** multi-tenant **********. *********** **** sells ** ********, *** in-student ******* **** ******* similarly **** ****** ********.

*******, *** *** ****** of ** ***** **** major **** ****** *******, each ** **** *** ~100,000-500,000 *****, *********** **** has *,*** ******** ******** to-date (~***,*** ***** ***** 50 **** ******** ** an *******). ***** ** is ******* ** ***** clients *** ********** ** roll *** ************* ** if **** **** ******, this ***** * **** of ***** *********** **** the ********** ** ***** property ****** ********.

Business ***** – ****** ***?

*********** **** ******* **** one **** ************ (******** and ********) ** **** as ********* ******* ********.

*********** ***** ******* $*,*** and $*,*** ** *******. For *********** ******** ** charges $*.** *** ********* per *****.

*************, ***** **** ************ ****** *** ******** cheaper ($*,***) *** ******* double *** ******* *** unit **** ($*). *** ******* *** $100 ******* ** ***** in ****, *** ********* ** $*** ******* in ****** ****, ** from $*** ******* *** year *****, ******* *** ******* of ******* *******.

**** ******** ** ******** and ********* ******* ****** suggests *********** *** **** to ******** *** ********* share ** ******* ** reach *** ****** *********, as ******** *** ******* revenue ** *** **** regardless ** ******** ****.

Other ***** ********* ********* *******

***** ** ******** ***** intercom *********, **** ** ButterflyMX's *********** *** *****, SmartRent *** ****** ******* Nucleus. ** ********** ** ButterflyMX's $** *******, *** startups **** ****** $*** million, $** *******, *** $5.6 ******* ************.

** ***** ** *******, with ***********'* *,*** ******** (~200,000 *****) ********* ****** revenue ** ~$* *******. If *** ******* ********* to ******* *** ********* per ****, ** ***** add ******* $*.** ******* and $*.** ******* **** the ******** *** ************ portion ** ***** ********. This ****** ***** ******* to ~$*-** ******* ********.

***********'* ******** ******** *** be **** ** ****** existing ********* *** ***** out ***** ***** ****** package, *** ****** ***** an ******* ******* ***** for *** *********.

COVID-19 * '****-** ****'

**-******* ******* **** *****-** has **** * ****-** call ** *** ******** management, ***** *** ****** behind ** ***** ** contactless ***** **********. ** referred ** *** ******** in ********** *** *** benefits ** *********** ***** resulting **** *** ******** as ****** ********* *** the ********.

*** ******** *** **** a *******. *** *** residents *** *********** ** manage *** ******* ***** lives

*** ******** ****’* **** pace, ** * ***** Covid *** * ****-** call

** ** *** ***** if *** ******** *** increased ***********'* ******* ****** overall, *******.

Using $** *******

*********** ****** *** *****, led ********** *******, ** *****, *** said ** **** *** the ************ ******* ** the ********.

**** ****** ***********'* ***** funding ** $** *******. They ********** ****** * total ** $*.* ******* in ******, ****.

********* ** ******** *******, *********** ******* ** hire ******** *** ****** its ********:

*** ******* ******* ** hire ** *** ********* within *** **** ** months.

*** ***** **** ****** ButterflyMX ** ****** **** new ******* *** ********* new ********

************, ******* **** *** new ******* **** ** used ** ******* ******** used ****** ********* *.*. their ******** ******** *** package **** *********. ** will **** ** **** to ****** ** ********** real ******, ***** *** not **** * *****.

******, *** ******* ***** to ****** **** ************* markets, ******* ***** ************ areas ** *** ** have **** * ****** to **** *****, ** seen *****:

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Positive *******

********* *** *********** *********, ButterflyMX **** **** *********** strengths ** **** *****:

  • ********* *** ** *** pricing ***** ** ********** in * ******** ***** for *** *****-****** ******. Smartphone / *** ***** features *** ***** '*****' costs *** ********* *******, while ********* **** ** by *******
  • ******** **** ** ******* and *********** *** **** of *** ***********, ***** could ***** *** ****** sales *** ******* ***********
  • ***** ********* ******* * foundation *** ********* *********** and ********* ** ***** owned *********, ********** *** beyond ******* ********

***********

*******, *********** ** ****** limitations **** *** ********* its ******:

  • ***** ******** *.*. ***** are ***** ** *********** in ***** ***** ******** hardware ** * ***** price, ****** **** ** advantage ********** ** ***** cost *** ******* ****** recurring ********
  • ******* *** ******** ***** toward ********* *****, **** will **** ** ***** their ***** ** * product ***** *****-** ** terms ** *************** **** market *******
  • ****** *********** ********** **** continue ** ******** * stronghold ** *** ******** market, ********* * ********* for *********** ** **** market *****

Going *******

*** ******** ****** **** likely ******** ******** ** the ********* / ****** direction ** *** ***** to ****, ****** *********** an ********** ****** ** the *******. **** **** developed * ********** ********* of ******** ******** *** a ********** *** *** renters *** ******** **** can ******* ******** ********* at ***** ************ *** maintenance *****.

*******, *** ************* ** their ******* *** ****** tenants *** ********, *** are *** *** ******* making ********** *********. ****, ButterflyMX **** **** ** continue ** *** ** the ******* *** *********** fronts *** ******** ****** and ******** ******** ** order ** **** ******** and ******** ** ****.

Vote / ****

Comments (18)

**** * ********* **** a **** ***, ***** business ***** *** ****** RMR **** *** *** user, **** * *** no ******** ** **** doing *** ******* *** them. * ******* **** might ****** **** ***** and **** * ***** to *** ********** ****, otherwise, * **** **** keep ********* ******* **** rather **** ******* **** them.

* ******** ***** **** ButterflyMX ***** * ********* I *** ******* ** about * ******* ********* they ****** ** *** product ***** ***** **** home **** ***** **** a ****** ** ***** products. * ***'* ***** on ******* ** *******, support ** **** ** installation ***** *** *** important *******.

**** ** *** * was ****** *** ** the ** ** ****** any *** ********. ****** to *** ****, *** we **** **** ******* an **********. ****** *** lacking *** **** **** all *** *********.

* **** ****** ** some ***** ******** **** as *** ******** *** series *****-****** ****** *** Commends ******** ******. *** my ******* * ****** to ** **** ******* for ** ****** *** design.

*** ****** ** *****-****** Video ******** - *******

******** ******** ***** ******** - *******

**** ******** ******* - Commend

*** ***** ******** ****** will *** *** **% RMR ** **** ** support ******* ********. ** don't **** ** ********* to **** *** ** don't **** ** **** to **** *** ****.

* ****** ** ****** ... **** ********* *** panels, *** *** **** experience ******* ***** *** BMX ** *** ** apples ** ****** **********. You *** ****** ***** an ***** ** *** 11.6" ***** (** **** the *" *****) **** to ** ***** ** the ***** ******** *** you'd ******* ** **** to **** **** *** very ********* *********.

******, **** *** ********* of *** ****** *** Business ********, ***** ******** the ****** ****** ** wire **** ** ****** control ****** *** ***** or ********* **** **** of *** ***** **** can ** ********** ** release *** **** --- well, *********** **** *** yet **** * *** or *** ***** **** can ** ********** **** way. * ******* **********, IMO, *** **** * pricey ******.

*****, ******** *** *** have ** ******** **** reader ** * ********* panel, ** **** *** provide *** ********** *** this **** ****** ** actually ****** * ****. You **** ** **** the **** ****** ** a ******* ***** **** a *** ***** ****** control ******. ** ***** make ***** *** ********* to ***** **** ****** control ************* **** ***** device, ** ** ****** certainly **** *** ********** to ** **. ***** panels **** * ******* 10 **, ****** **** other ********* ***** ******* that *** ******* ** based.

******, **** ** ****** much **** *** ** the *** *** ********* also ***** *** ***** by ******* ** *** user *** *** ******** before *** **** *** there ** ******* * quote *** *** *******. When *** *** ** include *** ******** ** your ***** ** ***** to ******* **** ******** margin ** **** ******** risk ** *** ******* side ** ******, *** end ***** **** *** that **** ******* **** a ***** **** *********, which ** ***** ****** is **** ****** ** a ***** **** *** can **** ***** ***** dealer *******. *******, **** confuses *** *** ****, who ****** ****** **** they ****** *** *** best ******* ****** *** anything *** ******* ***** that ********* *** *** have ******** *** **** price.

** **** ***'* ***** sharing *** *** **** the *******, ** **** affect ***** ****** ********** as **** ** ***** are ***** ****** *******/***********. For ***, ****'** ******* an ********* ** *** only ********* ***** ****** that *** **** ***** phone ***** ** * plug *' **** ****** and *** ******* ** on-premise *** ****** ** support **. **** **** of *** ******* ******* is ******** **** **** to *** ******* *** their ******* **** ** fairly ** *** ** things *** *** *****-** process.

**** *** *** *** only

********* ***** ****** **** can **** ***** ***** calls ** * **** n' **** ****** *** not ******* ** **-******* SIP ****** ** ******* it.

*** ****** **** *** of *** ******* ******** that *** ***** ***, including * ******* ********** with *** ******* ** accept * ** *** 3 ** ******.

*** ..**** ***** **** numbers ** ***** ... you *** **** **** off *** ***** "*" in *** **** ******* for *** ***** ********! The ***** ***** ******** isn't $***

******! ** ***** *********, Latch's ******** ****** ** $299, *** *********** ****** ** $*,***** *** *******.

**** ***** ***** ******* fee ** $*.** *** apartment *** *****, ** hear **** *** ******* that ********* ******* $*.** per ****, ***** ** different **** *** *********.

** ****** $*.** *** apartment *** ********* *****.

...... *** *** ***** requires ** ***** ******** camera ** ***** ** make ***** ***** *****. The ****** (*** *** a ****** **** ******) is ******* ***** **** the ********* ******

** **** ********* ***** intercoms ****** (************ ****** 2017), *** *** ***** downside ** *** ***** is **** ************ ********** ** *** internet ** ***** ** work ** ***

* ********** **** *** model **** ** *** tenant ********* *** ********** access, *** *** **** application ** **** **** well, *** *** ****** that ** *********** ***** for *** ******** ** government ******* ***** ******* connectivity ** ***** ** be ***-********, **** *** not **** * ******** for ** ***-******** *******

**** * ********* **** to *** **** ** butterfly ** ****** * meeting, * *** **** that **** ***** **** us ******* *** ********* into *** ******, ***** totally ****** *** ***** of ******* ******* *** the ******** *** ***** customers

*** ********* *** ****** and ** **** **** when **** **** * good ******** **********, ** not *** ** **** customer's ******** ********** ** slow, *** ***** *********** on * *** ********** is ****** **********

*******, ** *** *** considering ***** *** *** use **** **** *** specifically ********* **** ***, they **** ******* **** client/customer, *** ****** ** you ***** *** *** going ** *** ***** in *** ***** ** a ******* ******** **** an *******, ***** ** no **** ******* ** recive ***** ****, *** will **** ** *** up * ****** ****** with * ******** ******** connection

*********, *** *** ******* are ******** *** * very ******** ***** ****** segment: *****-****** *********** **********. If *** ******* **** in ******** **** **** are *** ******** ***, you ****, ********* *** into ************.

**** ** **** ******** soup **** **********.

****** ********** ***** ******, multi ******** ****** ******* right *** ****** ****** it ** ** ****** outdated ****** *** **** 6-12 ******.

****** ****** ** ** be ****** ******** ****** the **** *-** ******.

***? **** **** ***** that?

********* *** ** ** the ***** ***** ** their ******* ****, *** they ******** ******** **** funding ***** ** ***** hardware *****. *** ***** is ********* ********. ** code ******, *** ****’* neat, *** *** ***** here ** ***** ********. I **** * *** sorry *** ********, *** AiPhone **** **** *****’* changed ** *** ***.

***** **** **** ********* is *** ***.

- *** **/* *** power

- *** * *** data

- **/* *** *** strike

*** *** ** *** all *** ***?

** ***** ***** *****, yes * *** ********** where *** *** ****** from.

*** ****** **** ******** 12V *** ****.

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*******,

* *** **** ***** at $*** ** **** mentioned ** **** *******. If ** ******** **** to **** **** *** sees **** *****, *** there *** ********* *** the ********** ** ** 599 *** ***** *****?

** ***'* ******* *** future ** **** ******** is ** *** ******* of ******** *** * markup, *** **** ** your ****** **** **** in *** **** ** the **% *** ********** that ** *** ***.

*******, ** *** ***** want ** **** **** money *** *** ***** inexpensive ********, ***** *** 2 ********* *******.

*. *** *** ******* label *** ****** ** your ***, ** ***** a ****** **** ** HTML **** ** ********* our ********* ********** ****** into **** *** *******. You *** **** *** both *** ******** ****** and *** ******* **** to **** *** ******. Although *** ******** ******* bares ** ********, *** can ***** ****** ** create **** *** ******** package ** ************* **** ours.

*. *** *** *** whatever ****** ****** *** feel *** ****** **** to **** ************ ***. I ******* *** ******** standard ** **% ** so? **** *** ** another $*** **** **** installation ***. *** **** still ****** ****** ***** any ** *** **********'* products. ***** ** *** research, *** ******** ****** are ********* ****** **% of *** ***********.

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