Navitas Capital

We are thrilled to announce the closing of our third flagship venture capital fund, Fund III. We will continue to focus on providing foundational capital to world-class founding teams bringing innovative technologies and services to the real estate and construction industries. We will also continue to work closely with our network of leading limited partners, which include publicly traded REITs, real estate private equity firms and investment managers, Fortune 500 companies, homebuilders, endowments, and family offices. Congratulations to the entire Navitas team and all of our supporters on this milestone! Travis Putnam, Louis Schotsky, Michael Spies, Steve Swerdlow, Jim Pettit, Gary Dillabough, Amy Persohn, Jenny Song, Mike Heller, Madison Gesser, Leo Wing Read more about the fund and our strategic partners here: https://lnkd.in/gQ-m8XCy #venturecapital #proptech

🚨 Breaking: Silverstein Properties rolls out digital keys in Apple Wallet for their residential properties, but the two most interesting aspects are the player collaboration and the broader implementation this brings (IMO.) This signals a shift in how companies will work together, with our industry moving toward "seamless access control"—not just within a specific building but across Silverstein's offices, commercial spaces, and other properties. First, the players involved: SwiftConnect is the Credential Manager Allegion US is the Credential Provider Allegion is also the Locks Kastle Systems is the Physical Access Control System (PACS), readers, and integrator Apple brings their Wallet and phones/watches Like I did, you might wonder why they didn't just work with Kastle and Allegion alone. After all, Apple works with Allegion, and Allegion works with Kastle. In the past, that would have been enough for a single building with specific partners. The answer lies in addressing our industry fragmentation (even in a city / especially in a city like NY), improving operational efficiency, generating revenue, building a network, and enhancing the user experience - all the discussions we have within The Access Control Executive Brief (the going beyond locking, unlocking, and keeping bad people out. Value beyond putting a card in the phone and high fiving yourself for incrementally doing what we have been doing). Based on Silverstein's history and their previous press releases about Apple Wallet integration with SwiftConnect in their office spaces (from February 2022 - 7 World Trade Center office building), their strategy is to create a seamless network across their portfolio while providing an excellent user experience for tenants. For instance, per the 2022 press release, at 7 World Trade Center - an office building, they are using HID readers and HID Origo as the credential provider (and other PACs and probably locks, too), and now they can offer both residential and office tenants access to amenities and flex spaces across all their buildings. This setup allows them to combine hardware providers, credentials, and physical access control systems throughout their portfolio. They use middleware (an identity platform?) to connect everything—allowing simple tap-and-go access with a phone's NFC. Super interesting. And btw - I think news like this is good for #biometrics too. It’s great to see Kastle and Allegion collaborating with SwiftConnect. Even more importantly, Silverstein's embrace of these changes and technologies sets a clear statement on the experience tenants can expect that will encourage other companies to follow suit. Don’t believe me? Just look at how effectively ButterflyMX has leveraged the network effect in New York real estate. [press release in the comments] #accesscontrol #globalcommunity #security #securityindustry

"We now lead in our interactions with our customers and prospects with AI. We were very early, people are probably aware it used to be called MeetElise, it's now EliseAI. We were early investors, early adopters, really help shape that technology. That technology now handles 95% of our prospect interactions. And now we are taking that technology and using that throughout the customer journey." It was incredible to hear Benjamin Schall, CEO of AvalonBay Communities, highlighting the value of EliseAI on the Multifamily Market Forecast webcast with Willy Walker last week. AvalonBay's longstanding partnership with EliseAI, dating back to our company's early years, has been instrumental in driving our growth and success. We are privileged to collaborate with such an innovative and forward-thinking industry leader. We extend our sincere thanks to Ben and the entire AvalonBay team for their ongoing support and recognition! Watch the full webcast at the link below! ⬇️ https://lnkd.in/gMRKfrtC

🚪🔑Check out TechCrunch's article featuring SwiftConnect co-CEOs Chip Kruger and Matt Kopel. In the article, Kyle Wiggers dives into workplace access + our $37 million Series B funding announced this week: 💬With the advent of flexible workspaces, companies are increasingly adopting smartphone-based authentication to let employees enter and leave. In a recent poll, nearly two in five firms said they’re letting staff use their phones to access office buildings. The boon has benefited vendors like #SwiftConnect, which sells a platform for managing access to physical offices. Chip Kruger and Matt Kopel founded the company in 2020 after selling their previous company, Waltz, to WeWork in 2019.💬 📰 Read the full article here: https://lnkd.in/eVy8kvuh Quadri Ventures | HID | Egis Capital Partners | Klingenstein Fields Advisors | Crow Holdings | JLL Spark | Navitas Capital | Tanzola Corp. | Spring Rock Capital #SwiftConnect #SeriesB #NFC #NFCWallet #AccessControl #CRE #Technology #StartUps #Funding #Enterprise #QuadriVentures #HID #ASSAABLOY #EgisCapitalPartners #KlingensteinFieldAdvisors #CrowHoldings #JLLSpark

Congrats to our portfolio company SwiftConnect on the Series B milestone!

Thrilled to continue to support SwiftConnect as they successfully close a $37M Series B round! Excited to see this team's continued growth as they redefine access control and smart building technology.

We couldn't be more excited about the future of Document Crunch. Their recent traction and Series B fundraise are just more evidence of the monster force they are creating in the construction tech ecosystem. Watching Josh Levy in particular grow into a bigger role has been a joy. It also had us thinking about the @Navitas Capital construction tech and AI founder ecosystem and how powerful it has been. As Josh pointed out in a comment, calls from Riggs Kubiak (HonestBuildings / Procore) and Jeevan Kalanithi (OpenSpace) endorsing Document Crunch were critical for us in our diligence process last year, and both those founders have been instrumental in helping mentor Josh to date. Add in Tracy Young (Plangrid) and Minna Song (EliseAI) and we've assembled an absolutely killer roster of construction and AI superstars -- who have not only built category winners, but have also focused on giving back to other founders at earlier stages. Josh is just the latest to join the crew -- and we're stoked. It's a special community, and the future is even more so. Congrats again on the Series B!

See everyone at Blueprint next week! Jeffrey Berman Gavin Myers Sami Sparber David Weiden Looking forward to catching up with so many friends and colleagues. Navitas Capital will be there in force with Louis Schotsky Travis Putnam Mike Heller Chris Longman Kevin Parker Stephanie Metzler

Excited to share our recent thinking at Navitas Capital on the impact of AI and the energy transition on real estate! Thanks Brad Hargreaves and Thesis Driven for the feature. If anyone isn't subscribed and wants a guest subscription, comment below as I have a few to share. @Paces @Optiwatt @Gridium

I recorded a podcast! Have a listen to hear me talk about construction tech and AI, especially the Navitas Capital approach to investing in the space. We have a long track record in both AI and construction tech, including investing in companies like Matterport, Plangrid, Procore, OpenSpace and more. Thanks Bricks & Bytes team for having me!