• General
  • July 17, 2020
  • 3 minutes read

Brief: Openpath Raises $36 Million

Photo credit: Openpath Openpath, a Culver City, California-based startup that makes hands-free office locks, has raised $36 million in Series C…

Photo credit: Openpath

Openpath, a Culver City, California-based startup that makes hands-free office locks, has raised $36 million in Series C funding led by Greycroft, with participation from Okta Ventures, Allegion Ventures, Sentre, and LPC Ventures. Openpath says it’ll use the new funding to accelerate its engineering, hardware, and software efforts as well as pursue deals with new clients. With the new funding, Openpath has now raised a total of $63 million in funding since its inception.

Openpath makes a hands-free lock that’s used primarily in offices and seems like an ideal product in the middle of a coronavirus pandemic. The company was founded in 2016 by entrepreneurs Alex Kazerani and James Segil, who also co-founded and sold a previous startup, Edgecast, to Verizon for more than $350 million. Word has it that both entrepreneurs decided to launch Openpath after getting overwhelmed with the number of key cards usually required for office access. Openpath’s locks can be controlled via smartphones or even with the wave of a hand. At a time when people are generally careful of making physical contact with foreign objects, due to the coronavirus pandemic, Openpath’s hands-free locks come in handy.




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