New funding from the world’s top commercial real estate investors follows record-breaking growth and demand
BOSTON, April 14, 2021 (GLOBE NEWSWIRE) -- HqO, the only tenant experience operating system for commercial office buildings, today announced it raised $60M in Series C funding from leading venture capital and commercial real estate firms. Previous investors Accomplice, Insight Partners, JLL Spark, Navitas Capital, DivcoWest, Allegion Ventures, and The Pagliuca Family Office participated in the round, joining new investors PruVen Capital, Cushman & Wakefield, and Suffolk Capital. The company has raised $106.9M to date, and will use the funds to support its rapid growth. As HqO continues to scale, it will expand its existing footprints in Boston, New York City, London, and Paris, as well as open new offices in Toronto and the Midwest and West Coast regions of the United States.
HqO is the undisputed leader in tenant experience technology with more than 150M square feet under management. The company tripled its revenue in the past 12 months and doubled its headcount. The new financing will further accelerate HqO's growth initiatives and continue the company’s commitment to its world-class product through research and development, as well as support future mergers and acquisitions.
“Customer demand for HqO’s offering continues to be extraordinary. The company helped landlords, property teams, and tenants alike adjust to the changes of the pandemic around the world,” said AJ Malhotra at Insight Partners. “HqO is empowering office owners to bring their assets into the future through tenant experience, technology partnerships, and advanced data and analytics capabilities. This is crucial to the success of CRE, and we are excited to continue our partnership with the HqO team as they lead the tenant experience space.”
HqO services over 60 commercial real estate clients worldwide, including Columbia Property Trust, Vornado Realty Trust, Nuveen Real Estate, Jamestown L.P., Hudson Pacific Properties, Grosvenor, Landsec, J.P. Morgan Asset Management, and Endurance Land. By using the HqO platform, landlords and property teams are guaranteed an advantage in the ever-changing commercial real estate industry. HqO lets office owners generate value by arming them with technology that blends the physical and digital office experiences to better engage with the people who occupy their buildings. These technology activations also provide important insights that can be leveraged to create the most value for their assets.
HqO Co-Founder and CEO Chase Garbarino said, “We’re really happy with the composition of our Series C round being led by existing investors, but also bringing together a network of strategic investors setting HqO up for unprecedented growth as the world returns to offices. This round of funding is more than just capital; it comes with strategic partnerships that will significantly expand HqO’s reach and differentiate our offering.”
"The CRE industry is in the process of shifting the value equation away from the physical nature of the buildings to the tenants and employees who occupy them. We believe that a world-class tenant experience platform will help to satisfy this shift. After extensive research, we have identified HqO as the tenant experience market leader," said Travis Skelly at PruVen Capital. "Their best-in-class technology has made HqO the preferred platform for landlords. We are very excited to partner with the HqO team to help them deliver an unparalleled product with superior technology and client service."
“We’re proud investors in HqO since 2018 and excited to support them as they expand their industry-leading tenant experience platform and technology leadership,” said Yishai Lerner, Co-CEO at JLL Technologies. “HqO is a must-have product for any landlord seeking to retain, attract and build stronger relationships with their tenants.”
The world's leading commercial real estate firms count on HqO to help them deliver a state-of-the-art tenant experience within their properties. Active in over 150 million square feet in 7 countries, HqO is known for its tenant experience platform comprised of an award-winning tenant app, analytics suite, and partner marketplace. Our solutions put experiences and a sense of community directly into the tenants' hands while helping property owners uncover insights and take intelligent action to differentiate their assets. For more information, visit www.hqo.co, and connect with us on LinkedIn, Twitter, and Instagram.
Primary Contact: Kristin Concannon