OfficeRnD, the Leading Software for Flexible Workspaces, Raises US$3 Million
OfficeRnD, the leading software for coworking and flexible workspaces, raises US$3 million to speed up its growth. The new venture round is led by Flashpoint Venture Capital and Launchub Ventures.
The company has been growing exponentially over the last 2 years, tripling its revenue year-over-year and significantly expanding its team and customer base. As for today, OfficeRnD has more than 500 customers operating 1000+ locations worldwide that service more than 100 000 members.
“With the new funding, we plan to speed up our growth and redefine the workspace as we know it. By automating all key business processes and significantly improving the members’ experience, OfficeRnD plays a key role in shaping the future of the flexible working. We will use the investment to take the user experience, the functionality depth of our products and the services we provide to a new level and achieve our long-term vision – To Make Flexible Working (Workspace as a Service) the Way of Working.”, said Miro Miroslavov, CEO and co-founder of OfficeRnD.
Coworking and flexible workspaces have been growing rapidly over the last several years. As technological advances make remote work easier, it is expected to boom in the following years, disrupting the multi-billion dollar office space rental market. More and more Commercial Real Estate owners create flexible offices as this allows increased yields as well as makes their offer more attractive to tenants. Small and large businesses have the option to rent on more flexible terms than the typical multi-year lease.
But setting up and operating a flexible workspace involves servicing hundreds of people and making sure they are billed correctly, can reserve shared resources and have access to the right places. There’s also a strong community element and the operators need to make sure that members and tenants get along nicely with each other.
To solve these challenges, OfficeRnD has built a software platform that automates all key business processes and integrates other workspace technologies such as access control, wi-fi, printing and more. To provide an end-to-end solution, OfficeRnD also offers a suite of white-label apps that help the members of flexible workspaces engage with their office (book rooms, self-administration) and the workspace community.
“With OfficeRnD, the member-facing services and the billing work extremely well together, so you don’t have to integrate it.” – Kane Willmott, Co-founder, and CEO
OfficeRnD provides a complete software solution for coworking and flexible workspaces. The management suite serves as a central hub that integrates and automates all key workflows, while the white-label, member-facing tools improve the digital experience of their members.
For landlords that are entering the market or existing flexible workspace operators, OfficeRnD is the easiest to implement, yet, most advanced software solution. With offices in the US, UK, Europe and New Zealand, OfficeRnD provides the highest quality customer services in the market.
About Flashpoint Venture Capital
Founded in 2012, Flashpoint is an international venture capital firm managing equity and debt funds, investing in international software startups with founders originating from Finland, Baltics, CEE, Israel and CIS. The firm has funded a number of successful companies, such as Chess.com, Chili Piper, Dostavista, Guesty, Estimote, ivi.ru, Gurushots, etc. Flashpoint maintains a local presence in Budapest, London, Moscow, Riga, Tel Aviv, and Warsaw.
“We believe that the way we work is currently changing in a significant way. As technology enables us to work remotely, workers are less keen to sit in cubicles and companies are exploring alternatives like coworking spaces and flexible offices to differentiate themselves. In order to serve these clients well, Commercial Real Estate owners need a technology enabler that allows them to manage operations efficiently. We looked into the market and were very impressed with Miro and the OfficeRnD team, which managed to build a market leader in the US and UK markets, incubating their R&D team in Bulgaria. With our investment they will be able to scale their R&D and Sales team further to be able to service even more happy customers.” said Alex Konoplyasty, Managing Partner of Flashpoint Venture Capital
About Launchub Ventures
LAUNCHub Ventures is a leading early-stage Venture Capital firm, focusing on Seed and Series A stages. Based in Sofia, Bulgaria, the fund invests Central/Eastern Europe region as well as in founders originating from that region, based in the biggest startup ecosystems like Silicon Valley, London, and other major hubs.
“We are among the first investors in OfficeRnD and we made a bet in this company when the term future of work was not even a buzzword. Miroslav has proven to be an amazing founder, who managed to build a strong team and the best product in the space, loved by their clients.
The transformation in this industry is happening now and we are happy to continue being part of OfficeRnD’s journey.” commented Todor Breshkov, Partner at LAUNCHub Ventures.