officernd Secures $10M to Revolutionize Hybrid Workplace Management

The Evolving Landscape of Workplace Management

The shift towards decentralized work arrangements, accelerated by the COVID-19 pandemic, continues to fuel innovation in the startup sector. OfficeRnD, a provider of workplace management software, is capitalizing on this trend by focusing on solutions for businesses adopting a “hybrid office” model.

Securing Funding for Expansion

The company recently completed a $10 million Series A funding round to further develop its Software-as-a-Service (SaaS) platform. This platform is designed for landlords and office managers, offering features such as resource scheduling and financial management tools accessible via web and mobile applications.

Runa Capital spearheaded the Series A investment, with participation from Flashpoint Venture Capital and LAUNCHub Ventures.

Strategic Allocation of Funds

The newly acquired capital will primarily be allocated to bolstering OfficeRnD’s marketing efforts. The goal is to increase market share and expand strategic partnerships.

Current Market Position and Growth

Currently, over 1,000 customers utilize OfficeRnD’s tools to oversee more than 2,000 flexible workspaces. The platform supports “tens of thousands” of tenants and over 300,000 employees, facilitating a “work from anywhere” experience.

The tools offered for co-working spaces are designed to automate the entire tenant lifecycle. This includes contract preparation and e-signatures, automated billing, employee access to the space app and online portal, booking capabilities, and access to amenities like WiFi and printing.

Global Reach and Key Markets

OfficeRnD’s customer base spans more than 90 countries. The United States represents its largest market, accounting for 45% of its clientele. The U.K., the EU, and the APAC region each contribute approximately 15%, with the remaining 10% distributed elsewhere.

From Co-working Focus to Hybrid Solutions

Founded in 2015 and launching its initial product in 2016, OfficeRnD originally concentrated on assisting co-working spaces and commercial real estate companies. However, the pandemic prompted a significant increase in demand from organizations seeking tools to support flexible and hybrid office arrangements.

While co-working and “flex spaces” remain core customers (around 800), landlords (~100) also represent a substantial segment. Additionally, approximately 50 mid-sized companies (employing 100-1,000 individuals) are now leveraging the platform to adapt their workplace strategies.

Introducing OfficeRnD Hybrid

The recently introduced “OfficeRnD Hybrid” product specifically caters to these corporate clients. It assists them in transitioning from traditional 9-to-5 schedules to more flexible, hybrid models.

A significant portion of the new funding will be invested in enhancing this hybrid work management offering.

The Future of Work is Flexible

OfficeRnD believes that most companies now desire to empower their teams with hybrid work options, encompassing flexible or co-working arrangements. The company aims to transfer its expertise from the co-working sector to corporate clients, optimizing workspace utilization and employee flexibility.

The pandemic solidified flexible work as the “future of work,” creating new opportunities for OfficeRnD. These include landlords seeking to enhance tenant experiences and corporations aiming to provide greater flexibility to their employees.

“We now offer products for anyone managing a flex space and delivering a superior workspace experience, be it a co-working facility, a landlord, or a corporation,” the company states.

Industry Perspectives

Miroslav Miroslavov, co-founder and CEO, in a statement, emphasized that technology has been progressively enabling flexible work for over a decade, with COVID-19 accelerating this trend. He asserts that their platform empowers landlords, flex workspace operators, and companies to engage employees and manage workplaces on a flexible-first basis.

Dmitry Chikhachev, general partner at Runa Capital, added that OfficeRnD has become highly relevant in the evolving industry, having proven its value during the pandemic. He noted that many companies are maintaining their existing office leases while seeking new ways to utilize the space and provide more opportunities for their employees.

Competitive Landscape

OfficeRnD identifies Nexudus, Essensys, and Yardi as key competitors in the co-working space market. In the corporate sector, Envoy, Robin, and Condeco are considered primary rivals.

The company differentiates itself through ease of use, the depth of its workspace and employee/member applications, and the extent of its integrations and automations. Furthermore, OfficeRnD prioritizes exceptional customer service, striving to exceed expectations.

The Origin of the Name

The “RnD” in OfficeRnD does not refer to research and development. It stands for “rooms and desks,” reflecting an intentional nod to the Airbnb-style naming convention.