Locatee, a leading workplace analytics solution, has raised an approx. €7.1 million growth financing round. Led by SmartFin, the round includes new investors such as Zürcher Kantonalbank, Swiss Immo Lab, and Verve Ventures, as well as existing investors FYRFLY Venture Partners and Tomahawk Ventures.
Founded in 2013, Locatee’s workspace analytics software uses data from a buildings’ IT infrastructure to arm companies with quantifiable insights into office usage and occupancy levels. It allows businesses to create workspaces tailored to the unique requirements of their employees and business needs, and is already used by a SwissRe, Deloitte and Zurich Insurance Group, as well as a number
For many businesses, the sudden change in office occupancy and usage habits throughout the COVID pandemic has made it challenging to assess how much space the company really needs, or accurately calculate the financial costs of retaining unused space.
Corporate real estate is a significant cost for businesses, and critical decisions around the upscaling or downsizing of office space need to be based on robust data and analysis. With so much at stake financially, businesses are increasingly turning to the workspace analytics market for guidance.
The team’s fresh growth funding will be used to continue establishing Locatee’s presence as a leading provider within this office analytics space. The funds will also be used to continue developing the Locatee platform, as well as to target new markets, with an expansion into APAC and continued investment in North America. On top of this geographical expansion, Locatee will expand its product offering for a smaller business of c.1000+ employees.
“The last year has been quite the ride for Locatee – yet despite the market being in a pinch due to the pandemic, we could still see how our solution is highly valued and sought after”, said Thomas Kessler, co-founder and CEO of Locatee. “Even in this context, we have seen our revenues grow significantly, as Locatee’s relevancy spans today’s questions and tomorrow’s challenges. Together with the board, employees, and stakeholders, we saw the market demand for office optimisation while maintaining utility and appeal, and capitalised on this opportunity to double down on growth and value creation. We’re delighted to have SmartFin on board to lead this push with us”.
“SmartFin’s strategy is to work with European market-leading technology companies to help them build and grow”, said Jürgen Ingels, SmartFin’s Founding Partner. “Locatee has proven to be brilliant in establishing a strong, leading position in a new, exciting and fast-growing market and we believe this is a key time to build from this leading position and create the new standard for workplace data”.
“The vision for Locatee’s solution that convinced us before, just keeps being validated by both the market and the developments in the corporate world”, said Philipp Stauffer, co-founder and managing director at FYRFLY Venture Partners. “The momentum is enormous, and this fundraising round will allow us to capture it. We have built capabilities which have created a new category and established a market leader; we now look at realizing the full market potential, as the market wakes up to this new world of work.”