OfficeRnD, the all-in-one software for coworking and flexible workspaces, has raised $3 million in funding, led by Flashpoint Venture Capital and Launchub Ventures. Since its launch in 2017, the London-based startup has tripled its revenue year-over-year, used by over 100 businesses in over 1,000 locations worldwide. The new funding will help the company grow even faster.
Coworking spaces are proliferating as remote work is embraced across sectors. Flexible workspaces are attractive to commercial real estate owners and entrepreneurs, but they can be a logistical hassle. Operating a coworking space involves serving hundreds of people and making sure they are billed correctly, can reserve shared resources, and have access to the right technologies and physical locations. There’s often a strong community component; operators need to make sure that members and tenants get along nicely with each other.
OfficeRnD has built a software platform to solve many of these challenges. It automates key business processes and integrates other workspace technologies such as access control, wi-fi, and printing. To provide an end-to-end solution, OfficeRnD also offers a suite of white-label apps that help the members engage with their office (book rooms, self-administration) and the workspace community.
Co-founder and CEO Miro Miroslavov explained the product’s value and the company’s mission: “With the new funding, we plan to speed up our growth and redefine the workspace as we know it. By automating all key business processes and significantly improving the members’ experience, OfficeRnD plays a key role in shaping the future of flexible working. We will use the investment to take the user experience, the functionality depth of our products and the services we provide to a new level and achieve our long-term vision: to make flexible working (Workspace as a Service) the way of working.”
Alex Konoplyasty of Flashpoint Venture Capital commented, “We looked into the market and were very impressed with Miro and the OfficeRnD team, which managed to build a market leader in the US and UK markets, incubating their R&D team in Bulgaria. With our investment they will be able to scale their R&D and Sales team further to be able to service even more happy customers.”
Todor Breshkov of LAUNCHub Ventures said, “We are among the first investors in OfficeRnD and we made a bet in this company when the term ‘future of work’ was not even a buzzword. Miroslav has proven to be an amazing founder, who managed to build a strong team and the best product in the space, loved by their clients. The transformation in this industry is happening now and we are happy to continue being part of OfficeRnD’s journey.”