PropTech: Locatee raises $8.4 million
Locatee has raised $8.4 million in a growth financing. The Zurich-based company provides occupancy analyses of office space.
The financing round was led by private equity investor Smartfin, while Zürcher Kantonalbank and Swiss Immo Lab, among others, also invested in the company, which was founded in 2014. In the previous year, Locatee already received $4 million in a Series A financing.
The company plans to use the new funds to expand its customer base. The company has developed software that converts data from existing sources - such as the IT network - into insights about space utilization. Locatee customers can track how their company's office space is being utilized. This should help them make fact-based decisions about increasing or decreasing office space.
The occupancy analytics market could grow to more than $5 billion by 2025, in no small part due to the rise of hybrid work arrangements in the wake of the Corona pandemic, Locatee says. (ah)
