Witco, the Smart Tenant App launches to create Smart Cities.
Witco Raises $14m in Series A Funding
, the Smart Tenant app has raised $14m in Series A funding.鈥疶he tech start-up enables commercial and residential buildings to transform their spaces to be more serviced and collaborative with a single app.鈥��
Witco鈥檚 white-label technology has over 50 customisable modules and uses real-time data to enable HR managers and building owners to organise their premises and respond to employees and residents.鈥�
Witco聽helps clients across 200 cities, 800 buildings and 5,000 companies, enjoying an 80% adoption rate. Through mobile and desktop applications,聽Witco鈥檚 customers can manage a range of functions including hot desk or meeting room bookings, digitalised access, incident reporting visitor management and event organisation.鈥��
Catherine GUIZOL, Director of Innovation & Workplace Transformation at IPSEN, said: 鈥淲e chose聽Witco聽to become our global workplace application,聽centralising聽all services for our employees鈥� we see this application as a business companion for employees, enriching their employee experience.”鈥�
Plans for Global Expansion
The new funding will power聽Witco鈥檚 global expansion and comes from new investors Daphni, Eurazeo, UL Invest, and business angels, joining聽Naxicap聽Partners聽who also invested in earlier funding rounds.
Robin聽Rivaton, Venture Smart City Investment Director, Eurazeo said: “Our investment in聽Witco聽is in line with our Smart City thesis to make cities more sustainable and resilient.”鈥�
Paul Bazin and Pierre-Eric聽Leibovici聽of Daphni said: “Witco has succeeded in bringing digital services together in a single white label application for all building occupants. Asset managers will add value to their buildings through the digitalisation of many services for the wellbeing of their occupants.鈥濃���
Trend for Hybrid Working
Eliane Lugassy added:
“Since the pandemic, we must design hybrid working to meet employee expectations while maintaining team cohesion. HR managers will experience massive workplace reorganisation in the near future.聽聽Digital will be key in this transformation to make sure the change is smooth for employees聽enabling聽companies to collect聽data聽to better聽understand聽how spaces are used.聽We were advising our clients on this direction before聽Covid with an expertise few players have.”鈥�
Witco聽has 50 employees in its offices in Europe.聽A finalist聽at聽the聽PropTech聽Europe Awards 2020,聽Witco聽won the Bouygues Viva Tech Award and has featured on the聽Wavestone聽Smart Building Startups radar since 2019.聽鈥��
