JOIN Capital: Why we invested in Office App
JOIN Capital is proud to announce our lead in the latest €4.3m funding round for Dutch PropTech startup Office App, alongside Austria-based SIGNA Innovations (the Venture Capital Unit) and UK-based specialist PropTech VC Pi Labs.
A truly comprehensive platform, Office App is pioneering connected building experiences and team engagement for a new era of working life. Office App’s SaaS platform contains over 45 modular functionalities that synchronize personal behaviors, big data and smart settings to provide one seamless, elevated office experience that promotes engagement and happy employees.
JOIN’s partners believe in the growth of Office App in tandem with the rise of smart buildings, connected devices and AI-driven workplace software.
After each deal close, we like to shed light on the factors that influenced our decision. Here are the top reasons why we chose to invest in Office App.
Technology
Office App is a scalable, comprehensive and integrated experience that closes the gaps in a fragmented office tech ecosystem. Technology in office buildings is dispersed. Oftentimes, teams use many different systems and interfaces, which lead to inefficiencies, poor user experiences and fragmented data. Office App solves these problems through its streamlined, integrated approach. Meticulous incorporation of advanced technologies such as AI, as well as strategic platform partnerships, make Office App poised to conquer markets in ways that others simply cannot. Office App boasts the highest number of partner integrations and world-leading services in areas ranging from room booking to on-demand catering.
Business model & traction
The ability to scale, coupled with an impressive MRR growth and happy customers, shows that Office App has proven its value for landlords and tenants. Office App is able to quickly catalyze sales and platform adoption by focusing on large portfolios (e.g. landlords with 20+ sites and corporates with 40+). Major growth potential exists in its customer base, with possibility to scale through channel sales and product partners. Office App’s intelligent platform model allows the company to grow alongside its partners instead of compete against them.
Timing
The investment aligns with JOIN’s activity in the European PropTech landscape, and coincides with the widespread adoption of platform offerings. Office App’s vision is very much in line with our investment trajectory. JOIN’s backing of Office App’s vision and team shouldn’t come as a surprise given our portfolio, which includes PropTech powerhouse Proxyclick. Technology adoption trends in European markets are moving toward the types of functional offerings that Office App provides.
Team
The team’s vision and experience go hand-in-hand with the technology. The Office App team demonstrates an impressive vision that is driven by significant experience, with co-founders Thijs Van Der Burgt and Iain Thompson having founded companies in the past. We’re proud to back founders with the industry know-how and technical expertise to go the distance. Their level of knowledge has helped them gain traction even while bootstrapped.
Learn more about the investment and Office App by getting in touch at hello@join.capital.
