Tuesday, July 17, 2018

Openpath Adds $20M

Los Angeles-based Openpath, founded by startup veterans Alex Kazerani and James Segil, have raised another $20M for the company, in a Series B funding, the company said on Tuesday. The new funding was led by Emergence Capital. Kazerani and Segil previously founded Edgecast, which they sold to Verizon in 2013 for around $390M. Openpath is developing cloud-based physical access control systems for businesses. The company's other investors, who participated in this round, include Upfront Ventures, Sorenson Ventures, Bonfire Ventures, Pritzker Group Venture Capital and Fika Ventures. Those investors made a seed investment in the company in May. Openpath's access control systems use an employee's phone--rather than a physical keycard or a badge--to allow employees access to offices. More information »

---