KITT RAISES $5M TO HELP BUSINESSES NAVIGATE THE CHANGING OFFICE LANDSCAPE
Workspace platform Kitt has raised $5 million (£3.6 million) in seed fundraising, taking the total amount raised by the business to $7.5 million. The round, which will be used to scale the business nationwide and internationally, was led by Barclay Ventures.
Founded in 2018, Kitt provides a fully customisable workspace solution to tenants via its landlord partners – the second largest footprint of serviced space in London.
As companies return to the office, the way they use this space has drastically changed. Kitt’s tech-driven design and servicing approach enables companies like Oatly, Nested and PZ Cussons Beauty to deliver on their post-COVID office plans.
Each space is visualised through a fully immersive VR design process before being built around the needs of each business. Kitt offers a range of on-demand services to its tenants via its mobile app, which are then delivered through a proprietary operating system. Each space is tech-enabled with app-based entry systems, remote receptionists and security systems, allowing for a seamless tenant experience.
Kitt also empowers commercial landlords to offer a bespoke, managed service to tenants who are able to contract servicing partners through Kitt’s vetted suppliers.
On the raise, Founder Lucy Minton , said:
“Companies across the UK are rushing to get teams back to the office while re-assessing their use of space. At Kitt, we have experienced a 600% growth in revenue since August and we expect this growth to continue as offices navigate and understand the changing needs of their team. However, the property industry is more fragmented than ever and 88% of landlords have just one or two buildings. This has made finding the right office or tenant overly difficult.
“With flexibility top of the agenda, collaboration, creativity and innovation will be central to office design in a post-COVID world. Space needs to be able to bring teams together, enhancing wellbeing and re-building company culture. We’re bringing together both sides of the equation to provide the best solution for all.”
Investor and former CEO of Axel Springer Digital, Andreas Wiele, added:
“The office-leasing industry is in need of huge disruption and Kitt will play a key role in changing how the industry operates beyond COVID. By providing a bespoke solution for tenants, they can plan beyond the next six months and navigate their own version of the office of the future. For landlords, Kitt is offering a chance to market space in a new way that enables them to sell offices worth leaving home for.”
Founded by Steve Coulson and Lucy Minton in August 2018, Kitt is the managed office platform that provides a seamless alternative to traditional office leases.
The expert team at Kitt works with growing and maturing companies to find, design and deliver a bespoke office space that is tailored to their needs and managed for a fixed monthly fee.
Kitt works with commercial landlords, empowering them to meet the growing needs of tenants who want office space delivered as-a-service. They operate a model that connects landlords with tenants directly, reducing void periods and thus delivering significant increases in yields.
Their powerful back-office technology has digitised and automated many of the traditional functions typically undertaken by office and building managers, enabling them to transform any office unit into a fully managed space.
Visit: www.kittoffices.com to find out more.