Galway’s Ronspot secures €1.1m to transform Europe’s hybrid work market
Ronspot is a 3-in-1 space management solution for businesses to manage their desking, parking spaces, and meeting rooms. The system aims to allow companies to easily manage their hybrid workplace and save time on administration, scheduling, staff queries, and real-estate costs.
Ronspot Ltd. was established in Ireland in 2017 to respond to a newfound need at that time for companies to solve their car parking issues. When the pandemic hit, the company pivoted to desk management, creating a system to help manage office desks. Turning a monumental challenge into a massive opportunity to expand and grow the company.
From three customers in two countries in 2018, to more than 200 customers in 30+ countries today, Ronspot is on a rapid, upward growth trajectory. On the back of its latest funding round and to fuel further growth, Ronspot will create an additional 10 jobs in the next 18 months, bringing its team up to 28 people. The new roles, based in Galway and Dublin on a hybrid or remote basis, will be in the areas sales, marketing, customer success, data security and human resources. The additional team members will help Ronspot to expand in new and existing markets.
The funding from Furthr VC comes from its latest fund, backed by leading Irish technology entrepreneurs and business leaders, as well as Enterprise Ireland. With an emphasis on highly scalable, export-focused software and MedTech companies, the €32M fund has so far invested in 15 companies and is on-track to invest in up to 30 companies by year-end 2024.
Michael Furey, CEO, Ronspot, said: “Today’s organisations are acutely aware of the need to provide flexible hybrid working solutions in order to retain and attract talent. It continues to be an employee’s market and top talent will leave roles, or accept positions elsewhere, if a company isn’t doing enough to support the work/life balance that they have become accustomed to over the last two-and-a-half years. We recognised this shift early on in the pandemic and have evolved our solution to become an essential tool in any modern workplace.”
“The days of ‘one desk, one employee’ are a thing of the past for many, so it’s important that these resources are utilised more effectively in the future.”
Stephen Stilliard, chair of HBAN’s WxNW syndicate, said: “Having contributed €400K in 2020, angels in our syndicate are once again investing in Ronspot. Angel investors want to back businesses that are built for the future and that is what Ronspot represents. It has recognised, and capitalised on, an exciting market trend and our investors see great potential in that.”
Ronspot has benefited from the support of external agencies including WestBIC Business & Innovation Centre for its continued support throughout Ronspot’s growth journey and iHub at the Atlantic Technological University in Galway for providing a space to learn and grow. The team also benefited from Enterprise Ireland programmes such as New Frontiers and the Enter the Eurozone.
WestBIC wish Ronspot every success through their exciting scaling journey!
