by Brianna Crandall — February 6, 2020 — Rapidly growing SaaS (software as a service) company Genea recently announced it has acquired cloud-based physical access control company Sequr, further expanding its portfolio of commercial real estate technology solutions.
Michael Wong, CEO of Genea, remarked:
Sequr is an ideal fit for us. Almost all of our customers who use our OTHVAC and/or submeter billing software solutions have been searching for help with access control. Similar to our other offerings, Sequr’s software typically integrates directly with properties’ existing hardware which allows for major enhancements in functionality of access control systems while being significantly more cost-effective than a complete rip-and-replace. Sequr also shares Genea’s philosophy of providing outstanding customer experiences to its clients. Adding the best cloud-based physical access control solution to our technology suite has been a priority for us, and we have found the perfect complement.
Sequr addresses the limitations and pain points related to using on-premise access control software with a state-of-the-art cloud-based offering that improves convenience, transparency, security and safety. The combination of enterprise-level security, management portal and limitless scalability means that customers can access features normally reserved for the Fortune 500 at an affordable price.
Even more, Sequr turns everyone’s phones into their access card. No more retractable badges, no more getting locked out of the office, says Genea. By partnering with the world’s leading hardware manufacturers, the company give customers a quality software experience on top of the HID and Mercury hardware the industry has used for decades.
Mike Maxsenti, co-founder of Sequr, stated:
Since its inception in 2014, Sequr was designed to automate physical access control to reduce the cost and time associated with managing access to your facilities. When we evaluated strategic alternatives to accelerate our growth, Genea immediately stood out. Our similar customer-centric values and product alignment made us confident that this partnership would best position us as a leader in the fast-growing cloud-based physical access control market. The Genea team has earned the trust of its property management and engineering customers, which makes it an outstanding platform for Sequr.
This acquisition marks Genea’s second in less than a year. It acquired Moylan Energy Management in July 2019.
Irvine, California-based Genea provides software solutions that help office buildings create a great experience for their tenants and reduce the workload on property teams, thereby helping to increase asset value, process efficiency, and tenant satisfaction. Genea’s software is implemented in over 250 million square feet of properties. The software is backed by 24/7 support and monitoring from Genea’s US-based service team, reportedly resulting in a 99% customer retention rate.