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ButterflyMX Secures $35 Million in Growth Equity for Market Expansion, New Products

New York City — ButterflyMX has closed on $35 million in growth equity from Volition Capital, Egis Capital, RiverPark Ventures and Stifel Financial Corporation. The company is the creator of a smart intercom system which allows tenants to see, speak and grant building access to visitors through a secure smartphone application. The new financing will enable the company to expand into new markets, introduce new products and hire 80 new employees over the next 12 months. As part of the investment, Roger Hurwitz and Robert Chefitz of Volition Capital and Egis Capital are set to join the New York City-based company’s board of directors.

“Our smartphone-based platform is built to provide a better living and working experience by solving the access challenges associated with modern properties,” says Cyrus Claffey, founder of ButterflyMX. “Our products also simplify the work of building staff by enabling them to focus their time effectively and efficiently, which has never been more important. Thanks to our investors, we will continue to develop products and services that help the real estate world move away from antiquated keys, fobs and keycards for managing property access.”