Mobile-based building entry credentials are among the fastest-growing access control products that have taken the commercial real estate (CRE) industry by storm. An estimated 54% of businesses have upgraded or will upgrade to mobile access control systems today — a number that continues to increase due to health and safety brought on by the COVID-19 pandemic.
Longtime friend of The Let’s Go Show and President and Co-Founder of Openpath, James Segil joined Chase Garbarino in last week’s episode to discuss the merger. Chase and James dove into the acquisition process, and what it means for the future of the industry as well as the development of the company.
So, how did the acquisition process start? Motorola Solutions approached the Openpath team with conviction about being leaders in the access control category, James explained. Motorola’s industry-leading strategy and the opportunity to scale the business was especially compelling.
James shared that the partnership would help Openpath mitigate some of the challenges they’ve faced in the past with raising capital, managing supply chains, and so on. Ultimately, Motorola Solutions would provide them with the scale and access to further strengthen their industry-leading solutions.
Chase and James also dove into their go-to-market strategy. Through the acquisition, Openpath is now able to provide a cloud-based and on-premise solution, allowing them to better meet their customers where they are. Their access control product is in use in eight different verticals, from education and retail to gyms and, of course, CRE.
Later, their conversation turned to the possibilities the Openpath solution affords building owners and property managers. The mobile access product collects data from systems that are already in place in a given property, meaning that they are not creating an entirely new data set, but making existing data more accessible and digestible for those managing a property.
The value of Openpath’s solution is substantial because this data allows their customers to make smarter, more informed investment decisions, and in turn benchmark their property experience across industry standards.
James spoke to this value in the episode: “Knowing that data and having it available to people, because everyone’s got the mobile app on their phone, will allow people to be nimble and flexible.”
To learn more about making data-driven decisions in the workplace, listen to The Let’s Go Show’s latest episode.
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On Today’s Episode
Chase Garbarino, CEO and Co-Founder at HqO, the only end-to-end operating system for commercial office buildings.
James Segil is a serial entrepreneur and technology executive with demonstrated success at creating, growing and turning around leading technology businesses. He is currently the President and Co-Founder of Openpath Security, Inc.