French proptech Witco launches in the UK with $14 million in new funding

Parisian proptech Witco (formerly known as MonBuilding) has raised $14 million in new funding and in so much, launched operations in the United Kingdom. Not unlike a number of competitors, Witco uses a centralised app to manage building services and provides an, “enhanced customer experience.” In addition to a UK market entry, Witco also intends to use the funding to take on German and Spanish territories as well.

Founded in 2016, Witco does stand slightly apart from competitors in the sense that it offers a white label solution that can be used by building managers and owners of offices, co-working, co-living spaces, and residential housing for students and seniors. Witco’s offer has seen usage in over 800 buildings in 200 cities across the globe, accounting for approximately 5,000 companies.

The app itself has some 50+ customisable modules including room, office or gym reservations, problem reporting, visitor management, internal messaging, and/or event organisation. In addition to these client facing benefits, on the backend, Witco uses real-time data to provide building managers, HR pros, and workplace managers with actionable insights as to how and when their facilities are being utilised.

Witco co-founder and CEO Eliane Lugassy comments, “Since the beginning of the pandemic, companies have had to change the way they operate, implementing widespread remote working. The challenge now is to design a hybrid model that meets employees' expectations while maintaining team cohesion and motivation. Hybrid working requires companies to adapt. We are pleased to have a privileged position as we were advising our clients on this direction even before the arrival of Covid. We have an expertise and agility that few players have"

Witco’s $14 million Series A funding round arrives via new investors Daphni, Eurazeo, UL Invest, and various angel investors. Existing investor Naxicap also continued their support.

“Many digital services have emerged to facilitate the use of office buildings, from meeting room reservations and identity verification to parking management. maintenance and more. Witco has succeeded in bringing all these services together in a single white label application for all building users. Asset managers will add value to their buildings through the digitisation of many services for the well-being of their occupants,” concluded Daphni’s Paul Bazin and Pierre-Eric Leibovici.