Locatee raises $4 million in Series A funding

Locatee provides employers and commercial real estate owners with insights about how their spaces are utilized based on data from different sources. Understanding space utilisation allows for better planning resulting in cost savings. Swiss Re has, for instance, reduced its local office space by 10%, saving about €290,000 per year at its Munich office, thanks to Locatee. Other customers that leverage the technology include Biogen, Johnson & Johnson and the financial services company, Zurich, SwissPost, UPC and many more on six continents.

With its technology, Locatee aims to become a global player in the smart building market. The San Francisco-based FYRFLY Venture Partners believes that Locatee has the potential to achieve this goal. "Locatee’s vision to transform how space is used will ultimately elevate the quality of life for employees and can also contribute significantly to sustainable development goals", said Philipp Stauffer, co-founder and managing director at FYRFLY. "Office space is only one component and increasingly all ‘work points’ matter for productivity optimization. A quantitative approach to space optimization and productivity holds both significant top- and bottom-line potential for large global organizations. Furthermore, aggregated data can help predict larger market trends, which is exciting to us.”

Together with the Zurich-based Tomahawk VC, FYFLY led Locatee's series A round. The start-up raised $4 million which will be used to grow strategically by placing a high priority on bringing the right talent and expertise on board. Currently, Locatee has 30 employees.

(Press release/ran)