Witco, the smart building app, has launched in the UK with €12 million in Series A funding.
The fresh capital comes from new investors Daphni, Eurazeo, UL Invest, and business angels, joining Naxicap who also invested in earlier funding rounds. The latest capital injection will help launch Witco in the UK and expand into Germany and Spain.
The French startup enables commercial and residential buildings, through a single app, to be more serviced, flexible and collaborative for an enhanced customer experience.
Witco’s flexible tech solution offers a new opportunity for British building managers, owners, HR managers and tenants needing responsive working and living spaces, clear lines of communication, and a real-time understanding of building use. These needs have been emphasised by the pandemic, which saw the mass adoption of remote and hybrid working.
Founded in France in 2016 and formally known as MonBuilding, Witco’s white-label technology is used in offices, co-working, co-living spaces, and residential housing for students and seniors. The app, with over 50 customisable modules, uses real-time data to enable building owners, HR and workplace managers to adapt and organise their premises’ service offerings, as well as communicating with tenants, employees, and residents and responding to their needs.
Witco helps clients across 200 cities, in over 800 buildings and is used by 5000 companies, enjoying an 80% adoption rate. Through a mobile application and a desktop companion, Witco has developed the first app that centralises all the services offered to occupants to improve the experience of their workplace or living space. Witco enables companies to respond to the new expectations of their employees, supplying flexibility, personalisation and comfort. Companies can choose the functionalities of the Witco application according to their needs, including room, office or gym reservations, problem reporting, visitor management, internal messaging, event organisation and more.
Co-founder and CEO of Witco Eliane Lugassy commented: “This latest funding endorses our offer, which is critical in an era of mixed building use and the need for flexible space. As the function of the office changes, we will redefine the work and home experience and are committed to improving the wellbeing of employees and residents, supporting the effectiveness of building operations and the companies and organisations they house.”
Robin Rivaton, Venture Smart City Investment Director, Eurazeo stated: “Our investment in Witco is in line with our Smart City thesis to make cities more sustainable and resilient. Recreating meaning and community in office spaces is essential to improve the quality of life in the city in a context of rapid transformation with the rise of flexible workspaces and teleworking.”
Witco has 50 employees in its offices in Paris, Lyon and Madrid and has gone from strength to strength in recent years. A finalist of the PropTech Europe Awards 2020, Witco won the Bouygues Viva Tech Award and has featured on the Wavestone Smart Building Startups radar since 2019.