AcquisitionBusiness

WeWork Acquires Waltz

It was announced today that WeWork will acquire Waltz, a mobile application that allows users to gain access to a building via their phones, bypassing traditional building security.

Commercial Observer said that Waltz is building access and security management start-up which will make it easier WeWork’s enterprise clients, such as GE Healthcare and Microsoft, to manage their employees’ on-demand memberships to WeWork spaces. Waltz was founded by CEO Matt Kopel in 2015 and has offices in Montreal and New York.

WeWork’s announcement said, “with deep expertise in mobile access and system integrations, Waltz has the most advanced and sophisticated products to provide that single credential to our members and to help us better connect them with our spaces.” After the acquisition, Waltz will be integrated into WeWork but will maintain its current customer base. 

Since WeWork evolves from co-working spaces to a SAAS (software-as-a-service) provider, it has been on an acquisition spree over the past year. The companies it has bought include office management platforms Teem (for $100 million) and Managed by Q, as well as Euclid, a spatial analytics platform that allows companies to analyze the use of workspaces by the employees and participation at meetings as well as other events.

“Our technology team is focused on global access control in order to provide our members with a frictionless experience from curb to office,” said Shiva Rajaraman, WeWork’s chief technology officer. “Waltz’s incredible team and technology will allow us to broaden our access capabilities, giving members and guests an enhanced experience across our global platform.”

Similarly, Waltz is more than an alternative to keys or access cards. Its cloud-based management portal gives companies data about who enters and exits their buildings. It also allows teams to set “Door Groups” which restricts the use of some spaces to certain people. It can also be used to make revenue through ads displayed on its app, according to Waltz’s official website.

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James J

James has been writing about tech since 2009 after spending 25 years in a computer research lab studying and improving the future of computers. He watches Netflix sci-fi with his pet, enjoying spicy snacks.
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