Insight Partners Led the Investment Round
Insight Partners led the investment in iLobby. The company has been actively investing in startups throughout the pandemic. In December 2020 alone, Insight Partners invested in Bizzabo (an events platform company based in Israel), CommerceHub (drop shipping), SingleStore (database software), and Exclaimer (email management software). No other investors in the startup have been disclosed.
Who Is the Startup Seeking as Customers?
iLobby has a customer list that includes LG, Nikon, Boeing, Hershey's, Pepsi, and Scotiabank. In addition, the startup has expanded to airports such as the Phoenix-Mesa Gateway Airport Authority. In 2019, the Phoenix airport had 1.7 million passengers, a 15% growth in passenger volume over the previous year. The airport's growth is partly driven by Canadians' increased demand now that Swoop and Westjet serve the airport. Managing many visitors to a facility, especially a regulated one like an airport, is one of the top use cases for iLobby.
How iLobby Prices and Packages Its Business Software
Despite the company's Fortune 500 customer list, it has a variety of pricing tiers. In addition to a free trial version (which is limited to a single location), customers can also sign up for the Corporate ($199 per month, which includes an iPad) and Enhanced (from $275 per month) plans. Finally, iLobby also offers an enterprise plan with facial recognition, password scanning, and access control.
iLobby Introduces New Features to Respond to the Pandemic
While in-person visits to airports, banks, and other business locations have declined due to the pandemic, the company has continued to innovate. The Toronto-based startup has added two new features due to the pandemic: Touchless Sign-In and FeverCheck. Touchless Sign-In allows a visitor to check into a facility by allowing visitors to complete the entire check-in process on their phone.
In contrast, FeverCheck is a more complex business offering. The capability involves combining smart thermal cameras and the startup company's software. Together, FeverCheck is designed to check a visitor's body temperature. If a person's temperature measurements are too high, the system generates alerts.
iLobby Faces Competition From Established Companies
The global visitor management software company includes giants like Honeywell International ($36 billion in total revenue in 2019 from various products) and smaller companies like SmartSpace Software, AlertEnterprise, and Parabit Systems. Security is a crucial challenge for companies in this market. The security and privacy challenge could be even more significant for companies that collect health-related data like iLobby's FeverCheck.
About the Author
Bruce Harpham is an author and marketing consultant based in Canada. His first book "Project Managers At Work" shared real-world success lessons from NASA, Google, and other organizations. His articles have been published in CIO.com, InfoWorld, Canadian Business, and other organizations. Visit BruceHarpham.com for articles, interviews with tech leaders, and updates on future books.