Enterprise smart lock maker Sera4 of Waterloo secures $1.5M financing from BDC Capital

KITCHENER and WATERLOO, November 4, 2019—Sera4 of Waterloo, Ontario has secured non-dilutive growth financing totalling 1.5 million dollars from BDC Capital’s Growth & Transition Capital division. Sera4 makes enterprise-grade locks that are opened wirelessly with authorized users’ smartphones. Its technology affords greater security and efficiency as there are no physical keys in circulation and no anonymous access.

Sera4 was founded in 2014 by Jerod Klink, a former software engineer at BlackBerry. He was joined two years later by David Coode, a senior manager at ON Semiconductor, who took on the role of CEO. Sera4 has enjoyed early success with substantial sales to telecommunications service providers and tower operators in Mexico. It is now expanding in North America and elsewhere in the world as well as penetrating other industries with critical installations requiring access control.

“BDC Capital’s financial support is an integral part of our overall growth plan at Sera4,” says CEO David Coode. “The financial products and advice from BDC fit perfectly with our needs at this stage, and dealing with BDC Capital has been a pleasure.”

This transaction was conducted by Mark Lunick, Director, Growth & Transition Capital for Southwestern Ontario at BDC Capital. “Sera4 has solved a big problem for companies that need to give controlled access to their critical infrastructure,” comments Lunick. “The market for Sera4’s technology is considerable. The go-to-market strategy that management is now deploying is very well thought out and includes a deep pipeline of potential customers.”

About Sera4

Sera4 Ltd. is a leading supplier of keyless physical access control for critical infrastructure. It provides cyber-resilient site access automation and identification at scale, solving real challenges in operations while reducing significant asset losses. Sera4 solutions currently secure customers throughout the Americas and in Africa. Sera4 is headquartered in Waterloo, Ontario.

About BDC Capital

BDC Capital is the investment arm of BDC—Canada’s only bank devoted exclusively to entrepreneurs. With more than $3 billion under management, BDC Capital serves as a strategic partner to the country’s most innovative firms. It offers a full spectrum of risk capital, from seed investments to transition capital, supporting Canadian entrepreneurs who wish to scale their businesses into global champions. Visit bdc.ca/capital.

IMPACT Technical Products appointed as Representative for the Canadian Market

Sera4 (Waterloo, ON, Canada), is pleased to announce that IMPACT Technical Products (Mississauga, ON, Canada) is now the exclusive Manufacturer Representative for the Sera4 Teleporte keyless access control product line for the Canadian market.

Now in its 15th year of operation, IMPACT Technical Products (IMPACT) has established itself as a technical representation leader with a coast to coast presence in Canada. Although IMPACT supports all markets, the IMPACT engineering and support team specialize in addressing the mission critical, utility, transportation, industrial and communication service provider markets, which are all verticals that will greatly benefit from the Sera4 Teleporte keyless access control solution.

The partnership with IMPACT is effective immediately and it is a firm demonstration of Sera4’s commitment to assertively address the keyless digital access control market in Canada.


Sera4 (Waterloo, ON, Canada) est heureuse d’annoncer qu’IMPACT Technical Products (Mississauga, ON, Canada) est désormais le représentant exclusif pour la gamme de produits de contrôle d’accès sans clé Sera4 Teleporte pour le marché canadien.

Bien que IMPACT prenne en charge plusieurs marchés, son équipe d’ingénierie et de support se spécialise dans les marchés des fournisseurs de services critiques, de services publics, de transport, industriels et de communication, tous des secteurs qui bénéficieront grandement de la solution de contrôle d’accès sans clé Sera4 Teleporte.

Le partenariat avec IMPACT entre en vigueur immédiatement et témoigne de la détermination de Sera4 à s’attaquer de manière affirmée au marché de la commande d’accès numérique sans clé au Canada.

Sera4 Featured in the Globe & Mail

We have been prominently featured in one of Canada’s two national newspapers today. The online feature story can be found here.

FS-Systems represents Sera4 in Africa

FS-Systems, a South African company, has announced that they are representing Sera4 in Africa. We are excited to have FS-Systems supporting Teleporte in Africa with local supply and support.

The press release can be found here.

Sera4 Presents at the MTSA Canada Annual Forum

Sera4 was represented at MTSA Canada‘s Annual Forum “Creative Disruption”. CEO David Coode shared the value the Sera4 brings to critical infrastructure and how it can translate to create value in mining applications.

American Tower selects Sera4 for Latin America Perimeter Security

Sera4 has announced that they are equipping American Tower Corporation sites in Latin America with their Teleporte access control solution and AP3 Armoured Padlock for perimeter access control at sites throughout Latin America. The Teleporte solution, together with Sera4 padlocks and controllers, provide a truly keyless access management solution, solving a longstanding operational issue regarding physical keys. Locks can be opened securely through anyone’s modern mobile phone and the identity of the person entering the site is automatically recorded.

Sera4 AP3 padlocks are designed for outdoor use at remote sites. With a 10mm guarded shackle, AP3 provides a formidable level of physical robustness. With a 5-year expected battery life and convenient battery changes, the AP3 padlocks and very low impact on maintenance programs.

“Teleporte helps tower companies streamline their operations as they no longer have to get physical keys or cards to anyone who needs to access sites that can be geographically isolated”, says David Coode, CEO at Sera4.

Your Wi-Fi Security is Obsolete!

Today, the world came to know that Wi-Fi has a catastrophic vulnerability in its negotiation of security keys.

Unlike the cracking of WEP (over 15 years ago) – this represents a huge concern for individual and corporate “privacy” as:

  • the reliance of Wi-Fi for data transport has become the default standard rather than the exception,
  • without software updates, there is no “alternate” way to configure your network to protect yourself (short of turning it off)

Fortunately, the report of the WPA2 security hole came many months ago – allowing vendors to implement fixes to their products.

Unfortunately, it will take many years to proliferate those fixes to everyone and every device.  I shudder to think how many products will be abandoned as “obsolete” by their manufacturers, meanwhile millions of users will go unprotected.

This Public Service Announcement hopefully highlights your immediate need to seek firmware upgrades for all your Wi-Fi devices (phones, laptops, routers)!

All our customers can rest assured that Sera4 products are not subject to this type of attack. Our current technologies and strict security protocols – prevent “man-in-the-middle” attacks – and we’re staying on top of all security threats to maintain our leadership in high-tech security.

Why Businesses Need to Retire the Master Key

At Sera4, we make physical assets easily accessible to people who need to get to them, while keeping them safeguarded from others. Many of the companies we help are working to solve a problem with theft and vandalism. I was surprised when I learned that in almost all cases, the majority of theft was from people who were entrusted with a key.

The companies we work with want to protect sensitive points in a network or service. To do this, they build physical walls around these sensitive points and put locks on the doors. Access is given out to the people who help maintain, facilitate, and run these points. This could be a large employee base, or a contractor force.

From here, companies have faced a choice. They can either choose to maintain their security by limiting the number of keys that are distributed, which becomes inefficient in having to pass physical keys, or they make multiple copies of a key.  Most companies opt for speed and efficiency over maximum security. They elect to trust the employees and contractors who have signed contracts, and issue them all keys. In extreme cases, all the locks are keyed to the same cylinder or all combination locks are set to the same sequence.  Thus, the Master Key. While it is a simple and easy solution for access control, the employees and contractors are now aware that their colleagues also have the same keys they do.

A desperate contractor or employee finds courage behind the curtain by anonymity. They reason that they can steal with low risk because they know that when the company discovers a problem, they will hide in a sea of others who are all holding the key that opened the door. And usually, they are right. Add to this that putting something behind lock & key adds to perceived value, and maybe there is more theft with the locks on than with no locks at all.

With smartphone-based access control, anonymity is removed. Anyone who opens a lock is reliably identified by their phone.  This removal of anonymity has been proven to dramatically reduce the occurrence of theft. Since the black market value of the things that are stolen is just pennies on the dollar, I think there is an opportunity here for everyone involved to come out ahead.

Sera4 featured on the front page of The Record


WATERLOO — When David Coode joined a startup that was making money, hiring staff and expanding its customer base in Latin America, one of his top priorities was …read more