The tenant community platform claims this is the largest single funding round reported by any commercial tenant experience company to date, taking the amount invested in Equiem to a total of over £17m.
Previous shareholders Salta Capital and Grollo Group reinvested, whilst Perennial Value, an Australian-owned investment management firm, and Regal Funds Management, an Australian alternative investment manager, both invested for the first time. Several investors from the USA also committed, representing the first US-based capital invested in the firm.
Gabrielle McMillan, CEO of Equiem, said the company will continue to assess capital requirements in line with growth, but expects to announce a larger US-backed funding round later this year.
McMillan commented: “As the real estate industry matures in terms of its adoption of technology, we want to keep raising the bar in the tenant experience technology space. Over the last eight years, we have consistently invested in our product to ensure we offer the industry’s most advanced tenant experience platform, culminating in the recent launch of Equiem NEXT.
“The completion of this latest funding round now allows us to further develop our product line and deliver on a really exciting future roadmap, ensuring that we provide the next generation in tenant experience technology and remain the go-to provider in the global real estate market.”
The funding coincides with the launch of the latest iteration of the tech firm’s platform, Equiem NEXT, the development of which was facilitated by a previous raise in 2016.
NEXT is a rebuild of the firm’s previous technology stack, which overhauled legacy systems to create a new open platform and architecture that facilitates Equiem’s future product roadmap.
NEXT delivers a range of updated features and services, including:
- Enhanced design and user experience for iOS and Android apps, enabling full use of native phone functionality, as well as the option for landlords to white label to specific site or portfolio branding
- An updated full-feature ecommerce experience, with integrated vendor management, enabling landlords to deliver a wide range of services and amenities to tenants by supercharging retail vendors, as well as unlock greater revenue by driving higher ROI across assets
- Comprehensive tenant analytics providing landlords with actionable intelligence to help them better understand the needs of their tenants and deliver more effective tenant engagement
- A suite of features enabling landlords to plan, promote and execute events and engagement initiatives across their portfolios, and track their results. This includes check-in management and attendance tracking, built for concierge and security teams
- A flexible space booking platform for monetising building amenities, boardrooms and vacant desks
The new capital will be used to deliver on Equiem’s future product roadmap, which is focused on predictive data, personalised experiences, cardless building access, and an integrations and partnerships network.
The funding will also be used to support Equiem’s expansion across both new and existing markets. The company’s technology is now used by more than 145,000 people across 60m sq ft of prime commercial space worldwide.
In the last two years Equiem has expanded to the UK and Ireland, and the USA, rolling out across more than 19m sq ft in those markets. The firm has pointed to Canada and Singapore as its next markets for expansion.
Equiem was founded in Australia in 2011 and has offices in Melbourne, Sydney, Brisbane, London and New York.