Greetly Launches Touchless Tech, Founder Says

Originally published by MergerMarket. Re-posted with permission.

Greetly, a Denver-based provider of visitor management software, should decide by mid-July whether it will pursue a USD 5m to USD 10m round on the heels of the launch of its no-touch solution, said founder Dave Milliken.

The company on 17 June announced it had launched what it says is the world's first no-touch, self-check in visitor management system, offering it at no added cost for existing customers and building it into all future plans. The capability means visitors can use their smartphones to check in and out without having contact with a receptionist or kiosk, reducing the possibility of spreading germs such as the virus that causes COVID-19.

"We could continue to bootstrap, but this seems like a time to add fuel to the fire," Milliken said, adding that the company would start internal meetings about the raise next week. "The interest in bringing capital is broader than COVID. We are seeing more buyers for our services."

The company was "more likely than not" to raise the round, Milliken said. This news service reported in May that Greetly was considering a raise of around USD 5m with no firm timetable.

Interest in visitor management - particularly no-touch solutions, already growing last year, has accelerated since then.

LobbyGuard, which was acquired in June 2019 by JMI Equity-backed Raptor Technologies for an undisclosed sum, and Envoy, have both announced touchless options, though Milliken said neither is completely self-service.

Milliken said Greetly gets approached about every two or three weeks from parties wanting to discuss the possibility of acquiring it, with varying levels of interest from those parties.

“We sit at the intersection of office productivity and security, including physical security, and we imagine we will get interest over time from those spaces,” he said.

While Milliken did not precisely break down the cap table, he said he has the majority stake — a 97% stake is split between him and CTO and co-founder Denis Shelestov, and a nonprofit owns the remaining 3%.

Greetly offers a fully customizable visitor management system for enterprise and small-to-medium-sized businesses (SMB) clients globally. The technology saves time and money with tools that can provide instant visitor notifications, collect e-signatures, print visitor badges, and more.

Milliken declined to discuss financials or the number of clients, but said Greetly has customers in about two dozen countries.

Greetly uses Ellenoff Grossman & Schole for legal needs and WhippleWood for accounting.

by Nate Trela in Denver