Fast-Growing, Smart-Access Technology Zerv Secures $15 Million in Series A Funding
Top tech investors are putting their confidence in Zerv Access Solutions as the company secures $15 million in funding to continue its goal of digitizing and streamlining access and security systems with limitless applications.
NASHVILLE, Tenn., Oct. 20, 2021 /PRNewswire-PRWeb/ -- Zerv Access Solutions, a first-of-its-kind contactless control platform, has formally closed on $15 million in Series A funding to pursue its mission of simplifying access control and bringing people together with an innovative technology solution.
Founder and CEO Cody Horchak said the funding will equip Zerv to accelerate product development, expand its global team and increase production capacity to meet surging demand. The funding was led by investment from GreenPoint Partners and Taronga Ventures, in addition to a number of other strategic individuals.
"This funding is a huge signal to us that we're on the right track with the direction of the company," Horchak said. "We've proven a path to profitability and growth, and we're hugely grateful to our investors for seeing the same potential in the future of Zerv that we do and getting on board at a critical time."
"We believe Zerv is a compelling solution that meaningfully addresses the pain points of access control, seamlessly spanning across a diverse lock hardware ecosystem and the ever-growing needs of software interfaces into that ecosystem," said Eric Boothe, Operating Partner at GreenPoint Partners. "We see Zerv's product opening up physical access controls in the same way that Okta enabled single sign-on for the masses, and in turn are very excited to launch into this journey with the Zerv team."
This is the first round of major investment into the technology company, which aims to digitize and streamline access and security systems from traditional fobs and magnetic key cards into a simple smart device app. Its proprietary Zervers — plug-in devices that leverage existing access control infrastructure to connect a mobile device to a legacy system in 30 seconds — make it easy to modernize and retrofit existing access systems with minimal disruption or cost. And Zerv's platform offers property managers a wealth of invaluable data that can be used to make more efficient buildings and allocate resources more effectively.
"Our institutional real estate partners are actively seeking seamless, integrated security solutions that can improve access control and provide a greater understanding of actual building occupancy," said Taronga Ventures' Co-Founder and Managing Partner Jonathan Hannam. "We are delighted to be supporting this pioneering Smart Access solution with such widespread global applicability."
The company was founded in 2018 by Horchak, who was frustrated over basic inefficiencies that waste an inordinate amount of people's time each day.
"The Zerv process makes it easy for everyday people to modernize legacy fobs and card readers into a mobile-authenticated, touchless access control system that includes contact-free mobile access control, guest and delivery management, biometric identity verification and increased access to security features," Horchak said. "Our technology makes itself identical to the physical infrastructure of a fob or badge; it knows no difference between the two. There are zero nuances."
Since its inception, Zerv has developed into an international company growing 316% YoY.
"We currently have 62 software integration partners, ranging from tenant experience to visitor management," Horchak said. "Zerv is the network that connects all access points and makes them mobile-enabled. We have been referred to as the missing piece of brands that people use every day, like Google, Apple and Samsung. We are bridging the gap between today's tech and physical interactions with the world."
With rising security concerns and increased use of smart entry technology in industries like tourism, real estate, building management, transit, automotive, parking structures and more, the global entry control market is estimated to reach $6.67 billion by the end of 2021. To meet the growing demand, Zerv has tripled its headcount since the beginning of 2021. Its technology can now be found in landmark properties including New York City's Rockefeller Center and Grand Central Station.
"This is just the beginning for Zerv," Horchak said. "Series A is going to launch us into our next phase of growth. I'm extremely proud of how far we've come in recent months, and can't wait to see what's next for us as a company."
For more information about Zerv visit: https://zervaccess.com/.
About Zerv:
Zerv creates pathways to move people forward. We make access control easy and effective with adaptive technology that combines the best of new and existing security and access systems into a responsive experience that gets you where you need to be. Learn more about Zerv solutions and the future of access control at https://zervaccess.com/.
About GreenPoint Partners:
GreenPoint Partners is a global investment firm focused on opportunities at the intersection of real assets and technology. GreenPoint brings together an experienced team that has extensive investment and operational experience across both real assets and technology with a network of large institutional investors, owners, developers and managers of real assets across the globe that can accelerate the growth of emerging technology leaders. With complementary investment strategies across venture capital and private equity and an underlying firmwide focus on ESG integration, GreenPoint combines its operating platform, network and capital to partner with the entrepreneurs shaping our future.
About Taronga Ventures:
Taronga Ventures, through its RealTech Ventures Fund, is a technology and innovation investor focused on innovation for the built environment. The Fund is an institutional venture fund that invests into globally scalable entities that will enhance or challenge the way real estate is designed, procured, financed, developed and managed across all sectors. The Fund is focused on developing a diverse portfolio covering sustainability, design, materials and software and provides capital, mentorship and global networks for those companies in which it invests, as well as first mover advantage for the corporates that participate in the Fund. Taronga Ventures has extensive experience across global markets and asset classes and is supported by strategic and institutional partners across Asia, the Middle East and Europe.
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SOURCE Zerv Access Solutions
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