ButterflyMX Raises $35 Million
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.
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**** ****** *** $*,***.
**** ** ****** **** *********** *** 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 *****:
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 / ****
* ******** ***** **** *********** ***** a ********* * *** ******* ** about * ******* ********* **** ****** at *** ******* ***** ***** **** home **** ***** **** * ****** of ***** ********. * ***'* ***** on ******* ** *******, ******* ** easy ** ************ ***** *** *** important *******.
**** ** *** * *** ****** off ** *** ** ** ****** any *** ********. ****** ** *** user, *** ** **** **** ******* an **********. ****** *** ******* *** they **** *** *** *********.
* **** ****** ** **** ***** products **** ** *** ******** *** series *****-****** ****** *** ******** ******** system. *** ** ******* * ****** to ** **** ******* *** ** budget *** ******.
*** ****** ** *****-****** ***** ******** - *******
*** ***** ******** ****** **** *** you **% *** ** **** ** support ******* ********. ** ***'* **** 80 ********* ** **** *** ** don't **** ** **** ** **** end ****.
* ****** ** ****** ... **** 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.
**** *** *** *** ****
********* ***** ****** **** *** **** video ***** ***** ** * **** n' **** ****** *** *** ******* an **-******* *** ****** ** ******* it.
*** ****** **** *** ** *** missing ******** **** *** ***** ***, including * ******* ********** **** *** ability ** ****** * ** *** 3 ** ******.
*** ..**** ***** **** ******* ** Latch ... *** *** **** **** off *** ***** "*" ** *** MSRP ******* *** *** ***** ********! The ***** ***** ******** ***'* $***
******! ** ***** *********, *****'* ******** starts ** $***, *** *********** ****** ** $*,***** *** *******.
**** ***** ***** ******* *** ** $2.50 *** ********* *** *****, ** hear **** *** ******* **** ********* charges $*.** *** ****, ***** ** different **** *** *********.
** ****** $*.** *** ********* *** unlimited *****.
...... *** *** ***** ******** ** extra ******** ****** ** ***** ** make ***** ***** *****. *** ****** (and *** * ****** **** ******) is ******* ***** **** *** ********* panels
** **** ********* ***** ********* ****** (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 * ******** ******** **********
*********, *** *** ******* *** ******** for * **** ******** ***** ****** segment: *****-****** *********** **********. ** *** install **** ** ******** **** **** are *** ******** ***, *** ****, obviously *** **** ************.
**** ** **** ******** **** **** chopsticks.
*********** ** *** ****** **** * choice ** ***** ***** ********* **** them ** ******* ******** *** *** what ************ **** **** **** ** solve, ******* ********* ** ********** * benefit, *** ** * ****, ***** were **** ****** ***** ****-*** **** integrators ****** ** ***** **
** *** *** ******* ***** *** lack ** ******** ******** ********** ** certain *********, ******'* * ******** ***** fix ** **** ** *** ****? It **** **** ******* ********** ******** from *** ********'* *******.
****** ********** ***** ******, ***** ******** access ******* ***** *** ****** ****** it ** ** ****** ******** ****** the **** *-** ******.
****** ****** ** ** ** ****** outdated ****** *** **** *-** ******.
***? **** **** ***** ****?
********* *** ** ** *** ***** track ** ***** ******* ****, *** they ******** ******** **** ******* ***** on ***** ******** *****. *** ***** is ********* ********. ** **** ******, yea ****’* ****, *** *** ***** here ** ***** ********. * **** a *** ***** *** ********, *** AiPhone **** **** *****’* ******* ** one ***.
***** **** **** ********* ** *** POE.
- *** **/* *** *****
- *** * *** ****
- **/* *** *** ******
*** *** ** *** *** *** way?
** ***** ***** *****, *** * can ********** ***** *** *** ****** from.
*** ****** **** ******** *** *** WiFi.
*******,
* *** **** ***** ** $*** is **** ********* ** **** *******. If ** ******** **** ** **** site *** **** **** *****, *** there *** ********* *** *** ********** or ** *** *** ***** *****?
** ***'* ******* *** ****** ** 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 **% ** *** ***********.
**** * ********* **** * **** ago, ***** ******** ***** *** ****** RMR **** *** *** ****, **** I *** ** ******** ** **** doing *** ******* *** ****. * believe **** ***** ****** **** ***** and **** * ***** ** *** Integrator ****, *********, * **** **** keep ********* ******* **** ****** **** partner **** ****.