iLobby, a startup that offers visitor management software to enterprise businesses, has raised a $100 million strategic investment from Insight Partners, VentureBeat first reported.
- Great feat: The new investment is the first private raise for the Toronto-based company, which has been growing 100 percent year to year for the last several years and is profitable, said CEO Ariel Mashiyev.
- What they do: Founded in 2013, iLobby’s software helps enterprise companies track visitors, contractors, employees and others in their facilities, replacing more traditional pen and paper log methods. The system has thus far been used in buildings such as banks, airports, and government buildings.
- Heard on the Street: iLobby CEO Ariel Mashiyev explains how the pandemic has been a boon for the business: “As businesses are starting to reopen, there is an increasing need to not only know who is entering your facilities, but also assess whether they are a potential risk to your workforce… Our enterprise clients have thousands of visitors walking through their doors each week, so we have worked closely with them to develop this solution as a first line of defense to reduce risks to their business operations. This care for our customers has helped drive our retention into the high 90s, and is validated through strong satisfaction metrics and customer expansion.”
- Representation: RBC Capital Markets acted as the exclusive financial advisor to iLobby on the transaction and Wildeboer Dellelce acted as the legal advisor, according to a press relase. District Capital Partners acted as the buyside advisor to Insight Partners and Willkie Farr & Gallagher LLP and Stikeman Elliott LLP acted as legal advisors. [VentureBeat]