Smart lock and building access firm Proxy has raised $42m (£34.5m) in a Series B funding round.
The funding was led by Scale Venture Partners with Silicon Valley Bank and West Ventures among the new investors. Kleiner Perkins and Y Combinator also topped up their past contributions.
Early this month, Proxy announced the rollout of its miniaturized identity signal reader Mobile Reader Nano. It detects Proxy signals and gives users smartphone-based building access. The technology can be installed alongside existing card readers and access points.
“There are so many applications — Proxy is already seeing great success in commercial real estate and has really just scratched the surface in terms of what can be done with identity signals,” said Alex Niehenke, a partner at Scale Venture Partners.
The firm said it plans to use the money to improve its technology and expand through Asia, Europe, and North America. Its technology is now being used in at least 60 companies in the UK, US, Australia, and Japan. This business recently opened offices in New York, Chicago, Shanghai, Taipei, and Sydney and is hiring for its engineering, marketing, and customer service teams.
“With this new round, we’re going to double down on transforming the workplace experience and begin expanding into new verticals,” said Proxy chief executive and co-founder Denis Mars. “We’re turning Proxy into the de facto digital identification technology for the physical world and look forward to working with Scale and our other investors to do so.”