Witco, the Smart Tenant App launches to create Smart Cities.
Witco Raises $14m in Series A Funding
Witco, the Smart Tenant app has raised $14m in Series A funding. The tech start-up enables commercial and residential buildings to transform their spaces to be more serviced and collaborative with a single app.
Witco’s 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.
Witco helps clients across 200 cities, 800 buildings and 5,000 companies, enjoying an 80% adoption rate. Through mobile and desktop applications, Witco’s customers can manage a range of functions including hot desk or meeting room bookings, digitalised access, incident reporting visitor management and event organisation.
Catherine GUIZOL, Director of Innovation & Workplace Transformation at IPSEN, said: “We chose Witco to become our global workplace application, centralising all services for our employees… we see this application as a business companion for employees, enriching their employee experience.”
Plans for Global Expansion
The new funding will power Witco’s global expansion and comes from new investors Daphni, Eurazeo, UL Invest, and business angels, joining Naxicap Partners who also invested in earlier funding rounds.
Robin Rivaton, Venture Smart City Investment Director, Eurazeo said: “Our investment in Witco is in line with our Smart City thesis to make cities more sustainable and resilient.”
Paul Bazin and Pierre-Eric Leibovici 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.”
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. Digital will be key in this transformation to make sure the change is smooth for employees enabling companies to collect data to better understand how spaces are used. We were advising our clients on this direction before Covid with an expertise few players have.”
Witco has 50 employees in its offices in Europe. A finalist at the PropTech Europe Awards 2020, Witco won the Bouygues Viva Tech Award and has featured on the Wavestone Smart Building Startups radar since 2019.