Locatee secures $4M Series A financing round

08.05.2020 08:27, Gianmaria Sbetta

The Zurich-based PropTech startup has announced the closing of a USD 4 million Series A funding round led by San Francisco-based FYRFLY Venture Partners and Zurich-based Tomahawk VC. The funding enables the startup to accelerate growth, especially in the United States, and become a global leader in the smart building market. The company aims to grow strategically, placing a high priority on bringing the right talent and expertise on board.

Locatee uses existing sensors and IT infrastructures to provide employers and commercial real estate owners with detailed data about how their spaces are utilized. On top of the core data analytics, it also offers a number of other tools, ranging from smart signage for meeting rooms and workstations, for example, to desk finders for workers who now (or at least once they return to their offices) are often not working from a single, pre-assigned cubicle but sit a different spot every day. Thanks to the data Locatee gathered, Swiss Re, one of their customers, was able to reduce its local office space by 10%, which Locatee says allowed the company to save about €290,000 per year.

Customers' validation and traction made Locatee stand out from a crowded market and the new capital injection raised from US and Swiss-based VCs (FYRFLY Venture Partners, Tomahawk VC) will support their mission to become the “Google Analytics of office buildings.”

“We’re excited to join the Locatee team on its mission to provide real estate owners and operators with data they didn’t previously have access to. In today’s dynamic global market, having access to real-time data is crucial to making the right decision at the right time. We strongly believe that the future of work will be more data-driven and Locatee provides a central set of data,” concluded Cédric Waldburger, Founder at Tomahawk VC.

Locatee received support from Venture Kick in 2014 and ranked among the best Swiss startups in 2019 at the TOP 100 Swiss Startup Award 2019. 



Source: Press release