Recently ButterflyMX raised $35M to "meet surging demand for contactless entry in apartment buildings." Well, I partially believe that line. I 100% believe that it is to meet demand. ButterflyMX has been growing in popularity for years. What I think is being somewhat opportunistic is the demand being "contactless entry." That is more marketing speak than anything.
Regardless, what is interesting to me and what I want to discuss here is what the investment means for the intercom category and what it symbolizes as a larger trend or phase change in the multifamily access control industry?
The increased interest of intercoms from the Multifamily industry parallels the Enterprise increased stake in visitor management systems.
Interestingly, they follow a sleepy historical past and similarly have a bright future of solving, and in my opinion, leading the new fundamental use cases presented post-COVID. Let's take a look a both.
Pre-COVID past for both the intercom and visitor management systems:
Post-COVID future for both the intercom and visitor management systems:
Please do not get me twisted. The investment into ButterflyMX is a testament to the execution by Cyrus and his team. But it is also the canary in the coal mine to what is to come. It is a recognition that the way we interact with buildings, the increased need for a better user experience, and the desire for value beyond the safety value proposition is upon us.