How do you work in the office in the world after COVID-19?
This is what a startup wants to help a company understand.
salt mineDeveloped a web-based workplace design platform has raised $ 20 million in a Series A funding round.
Existing backers, Jungle Ventures and Explorer Capital, led the funding. This included participation from JLL Spark, the strategic investment arm of JLL, a commercial real estate agent.
In particular, JLL not only invests in Saltmine, but also partners with San Francisco-based start-ups to sell its services directly to its clients. This opens up a whole new source of revenue for the 4-year-old company.
Saltmine argues that cloud-based technology is doing what Salesforce has done to CROs in digitizing and streamlining the office design process to heads of corporate real estate. According to the CEO and founder, ARR (annual recurring revenue) surged 80% last year, doubling the number of partners. Shagufta Anurag.. For over 35 customers, PG & E, Snowflake, Fidelity, Blackrock, Nike Especially Workday. Its mission is simply to help businesses “create the best possible workplace for their employees.”
Saltmine claims a customer retention rate of 95%, with a 350% year-on-year increase in monthly active users of the SaaS platform in 2020. So far, the square feet of all office real estate properties designed and analyzed by customers at Saltmine total 50 million square feet in 1,500 projects.
Saltmine says it provides businesses with tools to do things like establish social distance measurements in the office. The company says its platform stores all workplace data, including strategy, design, pricing and portfolio analysis, in one place. Analyze a combination of floor plans and project requirements and use real-time behavioral data (aggregated by a combination of utilization sensors and employee feedback) to identify your company’s design needs. Saltmine claims that it can not only improve the workplace design process, but also help businesses “optimize their real estate portfolio.”
According to Anurag, pandemics have dramatically increased the need for digital transformation of workplace design and rethinking methods.
“Given the need for the ability to stay socially distant and the importance of work-life balance in many office environments, few workers expect a complete” return to normal, “she says. I did. “Currently, real estate managers are under great pressure to adapt and change their workplaces.”
As companies identify new needs, Saltmine uses “immersive” digital 3D rendering to allow them to visualize the changes needed for real estate properties.
“I saw in office real estate the same problems and unmet needs I saw in the housing market,” she said. “Real estate It is the second largest cost for the enterprise and has a direct impact on the highest cost employee. “
from now on, Saltmine plans to use the new capital to hire (of course) and continue to acquire customers. In particular, we are trying to expand the portfolio of 2000 global companies.
salt mine We have approximately 125 employees in five offices in Asia, Europe and North America. It will have 170 employees by the end of the year and is expected to make a profit by the end of 2021.
The company’s initial focus was on North America, but now it’s starting to expand to APAC and Australia.
Yishai Lerner, co-CEO of JLL Technologies, said JLL Spark is attracted to Saltmine’s approach of making data and analytics accessible in one place.
“Having a single source of truth for data also facilitates collaboration between teams, which is important, for example, in workspace planning,” he told TechCrunch. “This reduces inefficiencies and improves workflows in today’s fragmented design, construction, and fit markets.”
JLL Spark invests in companies that believe they can benefit from its distribution and network. Therefore, it is a company agreement to sell Saltmine software directly to customers.
“JLL tenants and clients continue to embrace the future of their work and are looking for technology solutions that keep their buildings running efficiently and effectively,” said Lerner. “Saltmine’s platform selects all checkboxes by streamlining stakeholder collaboration, increasing transparency and simplifying data management.”
After 80% ARR growth in 2020, Saltmine snags $20M to help employees return to a ‘new normal’ office – TechCrunch Source link After 80% ARR growth in 2020, Saltmine snags $20M to help employees return to a ‘new normal’ office – TechCrunch