iLobby, a Toronto-based startup that offers visitor management software to enterprise businesses, has raised a $100 million USD strategic investment.
The round was raised from venture capital and private equity firm Insight Partners and will be used to use the investment to scale its go-to-market and expand its product functionality. According to a report from Crunchbase, this represents iLobby’s first external financing.
“This investment will substantially accelerate the pace at which we build and deploy the iLobby product suite.”
– Ariel Mashiyev, iLobby
“This investment will substantially accelerate the pace at which we build and deploy the iLobby product suite to power the future of safety and visitor management in the workplace,” said iLobby CEO Ariel Mashiyev.
Founded in 2013, iLobby has developed an enterprise visitor management software. The technology is aimed to help facilities such as airports, government buildings, and multinational enterprises quickly digitize their front desks by tracking and managing who is in a given building.
The startup’s software is currently used in 45 countries and names Pepsi, Nikon, and Hershey’s among its customers.
iLobby claims to have seen rising demand for visitor management driven by the COVID-19 pandemic, despite the widespread shutdown of many businesses and facilities.
“As businesses are starting to reopen, there is an increasing need to not only know who is entering your facilities, but also assess whether they are a potential risk to your workforce,” said Mashiyev.
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Mashiyev claimed the startup’s retention rates are in the “high 90s,” adding that the startup has seen “strong” satisfaction metrics and customer expansion.
During the pandemic, iLobby also rolled out a COVID-19 pre-screening questionnaire for visitors, in addition to a touchless sign-in solution and fever testing.
“”Our enterprise clients have thousands of visitors walking through their doors each week, so we have worked closely with them to develop this solution as a first line of defence to reduce risks to their business operations,” the CEO added.
In addition to scaling its go-to-market, iLobby will also use the fresh capital to grow its sales and customer success teams to reach new customers globally.
BetaKit has reached out to iLobby for additional information on the financing deal but the company did not respond before time of publication.
Image source iLobby via Facebook.