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iLobby Raises $100 Million To Expand Its Presence In The Flourishing Visitor Management Software Market

In January 2021 iLobby, a visitor management software provider, announced that it had raised $100 million from Insight Partners, marking iLobby’s first ever round of funding. iLobby will use these funds to scale its go-to-market operations and expand its product functionality. iLobby has customers across 45 countries, with notable brands including Netflix, Pepsi, Scotiabank, Toronto Pearson International Airport and Unilever. iLobby has consistently grown revenue 100% YoY across multiple years since its founding in 2013; and the COVID-19 pandemic has accelerated demand for its product.

Headquartered in Toronto, Canada, iLobby’s core product is a SaaS visitor management platform that supports guest registration, check-ins, and analytics. The platform can also integrate with access control, CRM, HR directories, and file storage systems. Heads of IT and facility management can leverage the solution to bolster on-site security management and keep track of visiting contractors. It can design user interfaces, workflows, and administrative controls to optimize the visitor management process in high-security, tightly regulated environments such as airports, government buildings and financial services offices.

The broader visitor management software market is heating up, with lots of M&A and new product launches over the past 12 months. Proxyclick raised $15 million in a series B round of funding, to expand its sales operations and product development horizons. Honeywell acquired Sine and will leverage the visitor management platform to enable its clients to digitize their post-COVID workplace re-entry initiatives. Traction Guest released a vaccine attestation registry module, to support its clients with return-to-work safety procedures.

These market developments highlight visitor management software as a strong growth area in the broader smart buildings market. According to our 2020 survey, 56% of facility managers are investing in visitor management solutions at one or more sites to automate paper-based processes or replace aging systems that are not able to meet the requirements of the COVID-19 era. With strong market drivers in place for new generation visitor management systems, we expect iLobby’s deal will not be the last injection of funding we hear of in 2021.

To find out more about the dynamic visitor management software market, read our recent report, which includes a profile on iLobby, 10 Innovative And Exciting Visitor Management Firms To Watch In 2020.

SB Will COVID 19 Drive New Investment In Visitor Management Systems 28

Ibrahim Yate

Senior Analyst, Verdantix
Verdantix
Verdantix

Ibrahim is a Senior Analyst in the Verdantix Smart Buildings practice, which he joined in 2016. His current agenda covers innovation in software and hardware solutions for space management, workplace management, and workplace systems integration. Ibrahim holds an MSc from Imperial College London and MA from Cambridge University.