ButterflyMX Raises $35 Million

By Joey Walter, Published Sep 30, 2020, 01:17pm EDT (Info+)

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 ***********

*** *** **** **** ***** ******* was ******* ** ****, ****** ********* ****** ** ********.

*** **-********,***** ***************** *****, ********** ****** ** ***** ********* providing ********** ************** (*****/*****, **** **********) and **** ** **** ****** *** commercial **********, ***** *********** ******** ** the ******** *** ******** ***** ** mobile ********.

*** ******* ****** ** **** *,*** property ******** ****** *** ** *** internationally, **** **** ****** ******* ****** property *********** ****** *** *******.

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

*********** ** *** *** **** ******* entrant ** *** ***** ******** *******. Similar ** ***** ***** ***** *********, they ***** *********, ****** ******* ********, and ********, **-******** ********* *.*. ******** control, ******* ****, *** ***** ****.

********* ********* ** *" *** **.*" sizes, **** ***** *" ***** ****** intercom ****** ** **** $*,*** *** being**** ****** *** $*,***.

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**** ** ****** **** *********** *** a ****** ****** * ******** ******* a *** ** ***:

*** **-*******, ***** *******, **** ******** their******** *************** ** *****-****** *****, ******* *** *********** ******** ** using *********** *** *** ****** **** so **** *** ******* ******** *** building, ** ******** **** ** ***** temporary ****** **** * **********:

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

***** * ******* **** ******** ******* ** ***** ********** *** commercial **** ****** *********, *********** ** ********* ******* ** large ********* *** ** *** *********** side ** *** ****** ****.

**** **** ***** ** *********** *****-****** properties *** **** ***** *********, *** growth ********* *** *********** ** ******** but ****** *****.

** *** ****, **** ******* *** pandemic, ***** ********* *** ****-**** **** estate ********* *** **** ** ********* to ********* ***** ***** ********* ** younger ******* ****** ** *****-****** **********. ButterflyMX **** ***** ** ********, *** in-student ******* **** ******* ********* **** mobile ********.

*******, *** *** ****** ** ** least **** ***** **** ****** *******, each ** **** *** ~***,***-***,*** *****, ButterflyMX **** *** *,*** ******** ******** to-date (~***,*** ***** ***** ** **** property ** ** *******). ***** ** is ******* ** ***** ******* *** continuing ** **** *** ************* ** if **** **** ******, **** ***** a **** ** ***** *********** **** the ********** ** ***** ******** ****** agencies.

Business ***** – ****** ***?

*********** **** ******* **** *** **** transactions (******** *** ********) ** **** as ********* ******* ********.

*********** ***** ******* $*,*** *** $*,*** to *******. *** *********** ******** ** charges $*.** *** ********* *** *****.

*************, ***** **** ************ ****** *** ******** ******* ($*,***) and ******* ****** *** ******* *** unit **** ($*). *** ******* *** $*** ******* in ***** ** ****, *** ********* ** $*** ******* ** ****** 2019, ** **** $*** ******* *** year *****, ******* *** ******* ** ******* capital.

**** ******** ** ******** *** ********* revenue ****** ******** *********** *** **** to ******** *** ********* ***** ** revenue ** ***** *** ****** *********, as ******** *** ******* ******* ** the **** ********** ** ******** ****.

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

***** ** ******** ***** ******** *********, some ** ***********'* *********** *** *****, SmartRent *** ****** ******* *******. ** comparison ** ***********'* $** *******, *** startups **** ****** $*** *******, $** million, *** $*.* ******* ************.

** ***** ** *******, **** ***********'* 4,500 ******** (~***,*** *****) ********* ****** revenue ** ~$* *******. ** *** company ********* ** ******* *** ********* per ****, ** ***** *** ******* $2.25 ******* *** $*.** ******* **** the ******** *** ************ ******* ** their ********. **** ****** ***** ******* to ~$*-** ******* ********.

***********'* ******** ******** *** ** **** to ****** ******** ********* *** ***** out ***** ***** ****** *******, *** solely ***** ** ******* ******* ***** for *** *********.

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

**-******* ******* **** *****-** *** **** a ****-** **** ** *** ******** management, ***** *** ****** ****** ** terms ** *********** ***** **********. ** referred ** *** ******** ** ********** and *** ******** ** *********** ***** resulting **** *** ******** ** ****** tailwinds *** *** ********.

*** ******** *** **** * *******. All *** ********* *** *********** ** manage *** ******* ***** *****

*** ******** ****’* **** ****, ** I ***** ***** *** * ****-** call

** ** *** ***** ** *** pandemic *** ********* ***********'* ******* ****** overall, *******.

Using $** *******

*********** ****** *** *****, *** ********** *******, ** *****, *** **** ** held *** *** ************ ******* ** the ********.

**** ****** ***********'* ***** ******* ** $40 *******. **** ********** ****** * total ** $*.* ******* ** ******, 2018.

********* ** ******** *******, *********** ******* ** **** ******** and ****** *** ********:

*** ******* ******* ** **** ** new ********* ****** *** **** ** months.

*** ***** **** ****** *********** ** expand **** *** ******* *** ********* new ********

************, ******* **** *** *** ******* will ** **** ** ******* ******** used ****** ********* *.*. ***** ******** controls *** ******* **** *********. ** will **** ** **** ** ****** to ********** **** ******, ***** *** not **** * *****.

******, *** ******* ***** ** ****** into ************* *******, ******* ***** ************ areas ** *** ** **** **** a ****** ** **** *****, ** seen *****:

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Positive *******

********* *** *********** *********, *********** **** have *********** ********* ** **** *****:

  • ********* *** ** *** ******* ***** is ********** ** * ******** ***** for *** *****-****** ******. ********** / app ***** ******** *** ***** '*****' costs *** ********* *******, ***** ********* does ** ** *******
  • ******** **** ** ******* *** *********** the **** ** *** ***********, ***** could ***** *** ****** ***** *** product ***********
  • ***** ********* ******* * ********** *** continued *********** *** ********* ** ***** owned *********, ********** *** ****** ******* installs

***********

*******, *********** ** ****** *********** **** may ********* *** ******:

  • ***** ******** *.*. ***** *** ***** of *********** ** ***** ***** ******** hardware ** * ***** *****, ****** them ** ********* ********** ** ***** cost *** ******* ****** ********* ********
  • ******* *** ******** ***** ****** ********* entry, **** **** **** ** ***** their ***** ** * ******* ***** COVID-19 ** ***** ** *************** **** market *******
  • ****** *********** ********** **** ******** ** maintain * ********** ** *** ******** market, ********* * ********* *** *********** to **** ****** *****

Going *******

*** ******** ****** **** ****** ******** trending ** *** ********* / ****** direction ** *** ***** ** ****, making *********** ** ********** ****** ** the *******. **** **** ********* * sufficient ********* ** ******** ******** *** a ********** *** *** ******* *** managers **** *** ******* ******** ********* at ***** ************ *** *********** *****.

*******, *** ************* ** ***** ******* are ****** ******* *** ********, *** are *** *** ******* ****** ********** decisions. ****, *********** **** **** ** continue ** *** ** *** ******* and *********** ****** *** ******** ****** and ******** ******** ** ***** ** stay ******** *** ******** ** ****.

Vote / ****

Comments (21)

**** * ********* **** * **** ago, ***** ******** ***** *** ****** RMR **** *** *** ****, **** I *** ** ******** ** **** doing *** ******* *** ****. * believe **** ***** ****** **** ***** and **** * ***** ** *** Integrator ****, *********, * **** **** keep ********* ******* **** ****** **** partner **** ****.

Agree: 3
Disagree
Informative: 1
Unhelpful
Funny

* ******** ***** **** *********** ***** a ********* * *** ******* ** about * ******* ********* **** ****** at *** ******* ***** ***** **** home **** ***** **** * ****** of ***** ********. * ***'* ***** on ******* ** *******, ******* ** easy ** ************ ***** *** *** important *******.

**** ** *** * *** ****** off ** *** ** ** ****** any *** ********. ****** ** *** user, *** ** **** **** ******* an **********. ****** *** ******* *** they **** *** *** *********.

* **** ****** ** **** ***** products **** ** *** ******** *** series *****-****** ****** *** ******** ******** system. *** ** ******* * ****** to ** **** ******* *** ** budget *** ******.

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

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

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

Agree: 1
Disagree
Informative: 3
Unhelpful
Funny

*** ***** ******** ****** **** *** you **% *** ** **** ** support ******* ********. ** ***'* **** 80 ********* ** **** *** ** don't **** ** **** ** **** end ****.

Agree: 1
Disagree
Informative: 2
Unhelpful
Funny

* ****** ** ****** ... **** installed *** ******, *** *** **** experience ******* ***** *** *** ** not ** ****** ** ****** **********. You *** ****** ***** ** ***** of *** **.*" ***** (** **** the *" *****) **** ** ** image ** *** ***** ******** *** you'd ******* ** **** ** **** they *** **** ********* *********.

******, **** *** ********* ** *** Amazon *** ******** ********, ***** ******** the ****** ****** ** **** **** an ****** ******* ****** *** ***** or ********* **** **** ** *** input **** *** ** ********** ** release *** **** --- ****, *********** does *** *** **** * *** or *** ***** **** *** ** programmed **** ***. * ******* **********, IMO, *** **** * ****** ******.

*****, ******** *** *** **** ** embedded **** ****** ** * ********* panel, ** **** *** ******* *** capability *** **** **** ****** ** actually ****** * ****. *** **** to **** *** **** ****** ** a ******* ***** **** * *** party ****** ******* ******. ** ***** make ***** *** ********* ** ***** some ****** ******* ************* **** ***** device, ** ** ****** ********* **** the ********** ** ** **. ***** panels **** * ******* ** **, unlike **** ***** ********* ***** ******* that *** ******* ** *****.

******, **** ** ****** **** **** all ** *** *** *** ********* also ***** *** ***** ** ******* an *** **** *** *** ******** before *** **** *** ***** ** provide * ***** *** *** *******. When *** *** ** ******* *** hardware ** **** ***** ** ***** to ******* **** ******** ****** ** help ******** **** ** *** ******* side ** ******, *** *** ***** tell *** **** **** ******* **** a ***** **** *********, ***** ** their ****** ** **** ****** ** a ***** **** *** *** **** using ***** ****** *******. *******, **** confuses *** *** ****, *** ****** thinks **** **** ****** *** *** best ******* ****** *** ******** *** provide ***** **** ********* *** *** have ******** *** **** *****.

** **** ***'* ***** ******* *** RMR **** *** *******, ** **** affect ***** ****** ********** ** **** as ***** *** ***** ****** *******/***********. For ***, ****'** ******* ** ********* as *** **** ********* ***** ****** that *** **** ***** ***** ***** as * **** *' **** ****** and *** ******* ** **-******* *** server ** ******* **. **** **** of *** ******* ******* ** ******** very **** ** *** ******* *** their ******* **** ** ****** ** top ** ****** *** *** *****-** process.

Agree: 2
Disagree
Informative: 5
Unhelpful
Funny

**** *** *** *** ****

********* ***** ****** **** *** **** video ***** ***** ** * **** n' **** ****** *** *** ******* an **-******* *** ****** ** ******* it.

*** ****** **** *** ** *** missing ******** **** *** ***** ***, including * ******* ********** **** *** ability ** ****** * ** *** 3 ** ******.

Agree
Disagree
Informative
Unhelpful: 2
Funny

*** ..**** ***** **** ******* ** Latch ... *** *** **** **** off *** ***** "*" ** *** MSRP ******* *** *** ***** ********! The ***** ***** ******** ***'* $***

Agree
Disagree
Informative
Unhelpful
Funny

******! ** ***** *********, *****'* ******** starts ** $***, *** *********** ****** ** $*,***** *** *******.

Agree
Disagree
Informative
Unhelpful
Funny

**** ***** ***** ******* *** ** $2.50 *** ********* *** *****, ** hear **** *** ******* **** ********* charges $*.** *** ****, ***** ** different **** *** *********.

** ****** $*.** *** ********* *** unlimited *****.

Agree
Disagree
Informative
Unhelpful: 3
Funny

**** **** ************* ******** *******

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Agree
Disagree
Informative
Unhelpful: 3
Funny

...... *** *** ***** ******** ** extra ******** ****** ** ***** ** make ***** ***** *****. *** ****** (and *** * ****** **** ******) is ******* ***** **** *** ********* panels

Agree
Disagree
Informative
Unhelpful
Funny

** **** ********* ***** ********* ****** (Installation ****** ****), *** *** ***** downside ** *** ***** ** **** they******** ********** ** *** ******** ** large ** **** ** ***

* ********** **** *** ***** **** is *** ****** ********* *** ********** access, *** *** **** *********** ** will **** ****, *** *** ****** that ** *********** ***** *** *** hospital ** ********** ******* ***** ******* connectivity ** ***** ** ** ***-********, they *** *** **** * ******** for ** ***-******** *******

**** * ********* **** ** *** team ** ********* ** ****** * meeting, * *** **** **** **** would **** ** ******* *** ********* into *** ******, ***** ******* ****** the ***** ** ******* ******* *** the ******** *** ***** *********

*** ********* *** ****** *** ** work **** **** **** **** * good ******** **********, ** *** *** if **** ********'* ******** ********** ** slow, *** ***** *********** ** * bad ********** ** ****** **********

*******, ** *** *** *********** ***** for *** *** **** **** *** specifically ********* **** ***, **** **** impress **** ******/********, *** ****** ** you ***** *** *** ***** ** use ***** ** *** ***** ** a ******* ******** **** ** *******, there ** ** **** ******* ** recive ***** ****, *** **** **** to *** ** * ****** ****** with * ******** ******** **********

Agree
Disagree
Informative
Unhelpful
Funny

*********, *** *** ******* *** ******** for * **** ******** ***** ****** segment: *****-****** *********** **********. ** *** install **** ** ******** **** **** are *** ******** ***, *** ****, obviously *** **** ************.

**** ** **** ******** **** **** chopsticks.

Agree
Disagree
Informative: 1
Unhelpful: 2
Funny: 1

*********** ** *** ****** **** * choice ** ***** ***** ********* **** them ** ******* ******** *** *** what ************ **** **** **** ** solve, ******* ********* ** ********** * benefit, *** ** * ****, ***** were **** ****** ***** ****-*** **** integrators ****** ** ***** **

Agree
Disagree
Informative
Unhelpful
Funny

** *** *** ******* ***** *** lack ** ******** ******** ********** ** certain *********, ******'* * ******** ***** fix ** **** ** *** ****? It **** **** ******* ********** ******** from *** ********'* *******.

Agree
Disagree
Informative
Unhelpful
Funny

****** ********** ***** ******, ***** ******** access ******* ***** *** ****** ****** it ** ** ****** ******** ****** the **** *-** ******.

Agree
Disagree
Informative
Unhelpful
Funny

****** ****** ** ** ** ****** outdated ****** *** **** *-** ******.

***? **** **** ***** ****?

Agree
Disagree
Informative
Unhelpful
Funny

********* *** ** ** *** ***** track ** ***** ******* ****, *** they ******** ******** **** ******* ***** on ***** ******** *****. *** ***** is ********* ********. ** **** ******, yea ****’* ****, *** *** ***** here ** ***** ********. * **** a *** ***** *** ********, *** AiPhone **** **** *****’* ******* ** one ***.

Agree
Disagree
Informative
Unhelpful
Funny

***** **** **** ********* ** *** POE.

- *** **/* *** *****

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

- **/* *** *** ******

*** *** ** *** *** *** way?

Agree: 1
Disagree
Informative
Unhelpful
Funny

** ***** ***** *****, *** * can ********** ***** *** *** ****** from.

*** ****** **** ******** *** *** WiFi.

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Agree
Disagree
Informative
Unhelpful: 2
Funny

*******,

* *** **** ***** ** $*** is **** ********* ** **** *******. If ** ******** **** ** **** site *** **** **** *****, *** there *** ********* *** *** ********** or ** *** *** ***** *****?

Agree
Disagree
Informative
Unhelpful
Funny

** ***'* ******* *** ****** ** this ******** ** ** *** ******* of ******** *** * ******, *** bulk ** **** ****** **** **** in *** **** ** *** **% RMR ********** **** ** *** ***.

*******, ** *** ***** **** ** make **** ***** *** *** ***** inexpensive ********, ***** *** * ********* methods.

*. *** *** ******* ***** *** system ** **** ***, ** ***** a ****** **** ** **** **** to ********* *** ********* ********** ****** into **** *** *******. *** *** then *** **** *** ******** ****** and *** ******* **** ** **** own ******. ******** *** ******** ******* bares ** ********, *** *** ***** choose ** ****** **** *** ******** package ** ************* **** ****.

*. *** *** *** ******** ****** margin *** **** *** ****** **** to **** ************ ***. * ******* the ******** ******** ** **% ** so? **** *** ** ******* $*** into **** ************ ***. *** **** still ****** ****** ***** *** ** our **********'* ********. ***** ** *** research, *** ******** ****** *** ********* around **% ** *** ***********.

Agree
Disagree
Informative
Unhelpful: 1
Funny
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