Openpath raises $36M for hands-free office locks

The Series C brings the four-year-old startup’s total funding to $63M

TRD NATIONAL /
Jul.July 16, 2020 02:00 PM
Openpath's Alex Kazerani and James Segil

Openpath’s Alex Kazerani and James Segil

Openpath, which grants employees hands-free access to their offices, just raised $36 million as landlords race to adopt Covid-inspired safety measures.

The Series C was led by Greycroft, with participation from Okta Ventures, LPC Ventures and Allegion Sentre, the company said. The round brings Openpath’s total funding to $63 million.

Founded in 2016, the Los Angeles-based startup bills itself as an alternative to key card systems and lets employees tap their phone on a reader to unlock office doors. In May, Openpath rolled out a contactless option, allowing users to unlock doors by waving their phones. The tool also gives building managers the ability to lock or unlock any door in an emergency from a mobile device.

In a statement, CEO Alex Kazerani said Covid-19 “validated” the need for technology to make offices, schools and other buildings more secure. The company plans to use the fresh capital to expand its client base, and accelerate engineering, hardware and software development.

Kazerani and co-founder James Segil started Openpath four years ago after selling a previous startup, a content delivery network called Edgecast, to Verizon for $350 million. While working at Verizon, Kazerani and Segil were overwhelmed with the number of key cards they had to use.

They put their own money into Openpath’s $7 million seed round in 2018, and last year the startup closed a $20 million Series A. Openpath’s clients include Hines and Lincoln Property Group, and the firm claims its technology unlocks more than 5 million doors each month.

Though primarily marketed to office users, Openpath can also be used in apartment buildings, where competitors include Brookfield-backed Latch, which raised $126 million last year. Lane, an office management platform that raised $10 million in June, also offers digital building access.

In addition to keyless access, Openpath’s cloud-based system has other features for the post-pandemic workplace: The system can be used in elevators, to avoid multiple people jabbing at buttons. It can also monitor the number of people entering a space, and it can be integrated with temperate screening tools.


Related Articles

arrow_forward_ios
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

DeSantis says restaurants in Florida can operate at up to 100% capacity

DeSantis says restaurants in Florida can operate at up to 100% capacity
Peter Vauthy and Red South Beach (Getty)

The Weekly Dish: Red South Beach signs $5M lease for new space & more

The Weekly Dish: Red South Beach signs $5M lease for new space & more
Miami-Dade County Mayor Carlos A. Gimenez (Credit: Jason Koerner/Getty Images)

Miami-Dade police said pre-Covid evictions could resume. Then came mayor’s stop order

Miami-Dade police said pre-Covid evictions could resume. Then came mayor’s stop order
Miami-Dade County Mayor Carlos A. Gimenez (Credit: Jason Koerner/Getty Images)

Miami-Dade begins phase 2 reopening: movie theaters, bowling alleys and more

Miami-Dade begins phase 2 reopening: movie theaters, bowling alleys and more
Florida Gov. Ron DeSantis (Credit: Joe Raedle/Getty Images)

DeSantis moves Miami-Dade, Broward counties into phase two

DeSantis moves Miami-Dade, Broward counties into phase two
Gov. DeSantis (Credit: Joe Raedle/Getty Images)

Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida

Drink up: Bars can reopen Monday in the Florida Keys — but not in rest of South Florida
A Toojay's Deli location (Google Maps)

Lender acquires TooJay’s out of bankruptcy

Lender acquires TooJay’s out of bankruptcy
Miami-Dade Mayor Carlos Gimenez (Credit: Jason Koerner/Getty Images)

Miami-Dade mayor: Bars and nightclubs won’t reopen until there’s a vaccine

Miami-Dade mayor: Bars and nightclubs won’t reopen until there’s a vaccine
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...