Workspace Management Platform OfficeSpace Raises $150M

Workspace management platform OfficeSpace Software has received a $150 million strategic investment from the investment firm Vista Equity Partners, according to a Friday (Jan. 21) press release.

The investment will let OfficeSpace “continue building upon its industry-leading platform, empowering organizations to continually enhance and evolve their workplace strategy, including how they’re allocating their real estate investments and enabling employee productivity through insightful dashboards and reporting,” the release stated.

The OfficeSpace platform lets companies simplify how workers use and interact with the workspace, manage desk and room booking, and maintain social distancing, according to the release.

“With increasing complexity of day-to-day management of workplaces worldwide, OfficeSpace has experienced tremendous growth and has greatly expanded its offerings to meet the rising demand for an intuitive, robust platform for workplace operations,” the company said in the release.

OfficeSpace recently launched a service called Neighborhoods, which is intended to manage a “new hybrid reality,” helping businesses get their workers back to the workplace, the release stated.

“By simplifying flexible seating on a large scale, Neighborhoods provides maximum flexibility to employers in how they can organize their offices — where they choose to group seats and people together by team, project, space type or collaboration needs, and optimize as needed,” the company said in the release.

PYMNTS examined this new reality earlier this week in a conversation with Richard Bailey, executive vice president of Engineering at Entersekt, about the challenges he and his company face as they adopt remote and hybrid working models.

Read more: Responding to ‘Pandemic Fatigue,’ Companies Lead With Empathy

“We found that was really important, to lead with empathy, but also to experiment a little bit with some of the things that we could do,” said Bailey.

Friday’s investment in OfficeSpace was overseen by Vista’s Endeavor Fund, which provides growth capital and strategic support to enterprise software, data and technology-enabled companies with at least $10 million in recurring revenue, according to the release.