Allegion Ventures Invests in Openpath, Plans Strategic Technology Partnership
Summary
“The possibility of aligning the products of an established Allegion brand like Schlage® with Openpath in the future could create new value in access that goes beyond an entryway door and throughout a connected environment. The outcome of such a powerful solution that uses edge devices and automation without compromising security would be not only a seamless experience for enterprise customers, but also an acceleration of momentum in users’ mobile technology adoption.” As both an investor and technology partner, Allegion Ventures can help Openpath grow through expertise and experiences in seamless access and people flow, building codes and specification, mobile applications, channel distribution, global market penetration and more. Innovating alongside a major global player in the safety and security industry is a welcomed experience, especially as we have complementary solutions and share a passion for creating unparalleled customer experiences.” This is Allegion Ventures’ first investment in Openpath, and terms have not been disclosed. Openpath joins innovators such as Pindrop, Robin Powered and HqO in the Allegion Ventures portfolio of companies that are poised for growth. It invests in and accelerates the growth of companies with innovative technologies and products that have the potential to make security and access smarter, stronger, faster and less intrusive.
Classifications
AskAI Classifications
LabelsLinked Companies
