Bay Area Office to scale Spintly access control platform
Silicon Valley, Hyderabad and Chicago based funds have invested in Spintly which started building technology-based products in India in 2017 but plans to use the proceeds to foster key collaborations and partnerships in Silicon Valley and beyond.
The fund raising was led by RiSo Capital of Silicon Valley, along with SucSEED Indovation Fund of Hyderabad and Nikhand Investments LLC of Chicago. The raised amount has not been disclosed in Spintly announcement on 21 April 2021 from San Jose.
Spintly plans to use the newly established office in the Bay Area to foster key collaborations and partnerships in Silicon Valley and beyond to scale the Spintly access control platform.
SaaS-based physical security and smart building start-up, Spintly was founded by two experienced entrepreneurs, Rohin Parkar and Malcolm Dsouza. Parkar worked in Silicon Valley at Broadcom, Nokia, and Motorola while Dsouza worked with Nokia in the field of wireless technology, firmware and software development.
Spintly’s frictionless smartphone-based door access platform eliminates the need for key cards and elaborate wiring for a building’s access control.
“We believe in Spintly’s ability to deliver hassle-free keyless door access that will accelerate the industry’s transition to the fully wireless smart building. During 2020, Spintly’s platform proved to be an ideal COVID-19 solution for enterprises of all sizes as well as coworking spaces, multi-dwelling residential complexes, financial institutions, and hospitality buildings,” said Sri Purisai, Founder of RiSo Capital.
Progress since Spintly’s last round of funding in April 2020 includes:
15X customer growth
20X user growth
6X quarterly revenue growth
70% growth in quarterly revenue
Regional distribution network expansion
Onboarded key marquee customers
The next funding round is expected to in early Q1 2022.
Spintly delivers a fully wireless mesh-enabled, cloud-based access control platform for a seamless, hassle-free and contactless user experience. Spintly enables access and frictionless smartphone-based door access, eliminating the need for key cards and elaborate wiring for access control. Spintly target verticals include small, medium, and larger enterprises, coworking spaces, multi-dwelling residential complexes, banking/financial institutions, and hospitality. #banking #funds #investment #technology #hospitality /fiinews.com
