Spintly
Overview
Spintly is a pioneering company in the field of wireless, cloud-based access control systems, aiming to revolutionize the physical security industry. Founded in 2018 by Rohin Parkar and Malcolm Dsouza, the company specializes in providing a frictionless, smartphone-based access control solution for commercial and residential buildings. With its headquarters in Milpitas, California, Spintly has raised significant capital, including a $2 million seed round in 2024, with investors such as Accel, Doctor Technology, and Chakra Growth Fund. The company's innovative products eliminate the need for physical access cards and simplify the access control process through BLE-Mesh technology.
Recent Developments
- November 2024: Spintly introduced employee badges in Apple Wallet, greatly enhancing its seamless, contactless access control offerings in India, catering to corporate spaces. This integration allows employees to use their smartphones or Apple Watch to access secured areas without traditional plastic key cards and was designed to improve the user and administrative experience (Economic Times).
- April 2024: The company secured $2 million in funding led by Accel and other investors. This funding aims to accelerate market growth in the US, enhancing sales, marketing, and partnership strategies (Outlook Business).
- 2018-2023: Spintly saw its annual recurring revenue increase by 300% in 2023, while expanding its US presence by increasing its business development teams in locations like Silicon Valley and Texas. The company continued to grow its operations across various market segments, including enterprise, residential, and educational sectors.
- December 2023: To assist in the digitization of physical infrastructure, Spintly's solutions reportedly serve over 250,000 users globally, supporting streamlined operations for major enterprises (Startup Story Media).
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2018 |
| Headquarters | Milpitas, California |
| Founders | Rohin Parkar, Malcolm Dsouza |
| Revenue | Not publicly disclosed |
| Profits | Not publicly disclosed |
| Key Investors | Accel, Chakra Growth Fund, Doctor Technology |
| Industry | Access Control, IoT, Security |
| Number of Employees | Approximately 119 in 2024 |
Early History
Spintly was established in 2018 in Goa, India, by founders Rohin Parkar and Malcolm Dsouza. Both engineers, they brought their experience in wireless and IoT technologies to build a business initially focused on developing smart building IoT solutions. The company’s initial product, a fully wireless access control system using BLE-mesh network technology, was part of a broader smart building automation platform. This emphasis on wireless technologies allowed Spintly to differentiate itself in a market dominated by wired solutions. Early projects involved collaboration with local real estate and property management companies to validate their innovative solutions.
Company Profile and Achievements
Spintly operates on a business model that combines hardware sales with recurring revenue from its cloud-based software subscriptions. The company's offerings, including smartphone-based door access systems and visitor management solutions, have driven significant growth in user adoption. Key achievements include:
- Development of BLE-mesh technology for access control, eliminating the need for wired infrastructure.
- Establishment of strategic partnerships with leading technological providers like Cisco Meraki to enhance product offerings.
- Extension of their product’s reach into global markets, particularly in the United States and India.
- Receipt of numerous accolades, such as the Thread Group’s Innovation Enabler Award in recognition of their contributions to IoT technology.
Current Operations and Market Position
Today, Spintly provides advanced access control systems serving a wide range of sectors, including corporate, residential, healthcare, and educational markets. As a leader in adopting open IoT standards, the company’s architecture supports seamless integrations with other systems, providing a comprehensive security suite. Spintly’s market position is strengthened by its innovative use of technology to streamline access management and its strategic expansion into key international markets, including the Middle East and North America.
Conclusion
Spintly's contributions to the smart building ecosystem have marked it as a transformational player within the access control industry. Their innovative use of BLE-mesh technology allows for a frictionless integration that supports both modern enterprises and residential applications. Looking forward, Spintly is poised to continue its upward trajectory, as it doubles down on R&D and expands into additional market segments globally. This focus on scalability and adaptability in its product offerings positions Spintly to capture significant market share in the burgeoning smart buildings market.