London, 16 November 2017: OfficeRnD, the London and Bulgaria-based coworking space management platform, today announces the completion of its $1 million seed funding round. The capital investment was led by LAUNCHub Ventures, the founders of Telerik, a leading Bulgarian software company, and Constant Tedder, the co-creator of Runescape. The investment will be used to triple the size of the OfficeRnD team and advance OfficeRnD’s product development to keep pace with demand in the rapidly growing coworking industry, while also adding new functionality for real estate and property management.
OfficeRnD is a flexible workspace management solution to help new and existing coworking and serviced offices maximise their revenue and use of space, improve customer online and mobile experience and bring clarity to their fast-growing businesses. OfficeRnD is a full-service white-label solution which brings together all office space and member data into one platform, and boasts integrations with dozens of popular business tools.
With offices in London and Bulgaria, OfficeRnD’s platform is used by more than 100 coworking spaces and serviced offices across 30 countries, and a combined 10,000 members use the OfficeRnD portal every day. OfficeRnD began life at Pi Labs, the London-based property tech venture capital firm, where it was a member of the first cohort of Pi Labs’ pre-seed programme. Pi Labs was also an early investor in the company.
Miroslav Miroslavov, co-founder and CEO of OfficeRnD, said: “We firmly believe that workspace-as-a-service will become the way of working for most if not all small and mid-sized businesses. For flexible workspace operators managing their space and growing communities brings significant challenges, particularly as they scale up or expand to new locations. Members have come to expect seamless service, and flawless automation is increasingly imperative for a workspace success. This funding round will ensure that we can continue to anticipate and address those challenges for our customers, allowing us to offer the best full-service solution for this dynamic and exciting market.”
Rumen Iliev, partner at LAUNCHub, said: “The distinctions between flexible, serviced and coworking spaces are blurring, and these spaces will all soon simply be known as ‘the office’. We believe that coworking spaces represent the future of the office, and the market shows no sign of slowing. Coworking space management has been an historically underserved market segment, and we’re delighted to be supporting OfficeRnD on their mission to improve outcomes and quality of service. OfficeRnD has a really beautiful product and Miroslav and his team have a sophisticated understanding of the modern coworking space, and we look forward to seeing OfficeRnD grow over the coming months and years.”
OfficeRnD is a flexible workspace management solution to help new and existing coworking and serviced offices maximise their revenue and use of space, improve customer online and mobile experience and bring clarity to their fast-growing businesses. OfficeRnD was founded by Miroslav Miroslavov and Miroslav Nedyalkov in Sofia, Bulgaria, in 2015, and completed Pi Labs’ property tech accelerator programme in London later that year. Since then, OfficeRnD has become one of the worldwide market leaders in flexible workspace management software, amassing over 100 coworking spaces and serviced offices across 30 countries. OfficeRnD’s customers include Central Working, Us&Co, Halkin, Dogpatch Labs, Centrl Office, Mesh Oslo, Maria.io and many more.
LAUNCHub Ventures is an early stage VC Fund, based in Sofia and investing in digital startups in the wider Southeastern Europe region. The fund’s portfolio companies are in the fields of SaaS, Enterprise Software, Health-tech, E-commerce, Mobile, IoT, but its investments are not limited only in these verticals. With €30m under total management LAUNCHub Ventures focuses on the seed space with investment ticket size in the range of €300K to 700K, expandable up to €1,5m per company.
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