HqO recently announced it raised $60 million in Series C funding from a number of leading venture capital and commercial real estate firms. PruVen Capital, Cushman & Wakefield and Suffolk Capital were among the company’s new investors. HqO, a tenant experience operating system for CRE office buildings, has raised $106.9 million to date. The company plans to use the funds to support its growth, as it eyes expansion in Boston, New York City, London and Paris. HqO also plans to open new offices in Toronto and well as the Midwestern and west coast regions of the U.S.
CRE firms use HqO to help them bring high-quality tenant experiences to their properties. HqO is currently active in more than 150 million square feet in seven countries. Its tenant experience platform includes a tenant app, analytics suite and partner marketplace. The company’s solutions help give tenants a sense of community and let CRE owners find insights and take intelligent action to help their properties stand out from the rest.
“The CRE industry is in the process of shifting the value equation away from the physical nature of the buildings to the tenants and employees who occupy them,” Travis Skelly at PruVen Capital said in a release. “We believe that a world-class tenant experience platform will help to satisfy this shift. After extensive research, we have identified HqO as the tenant experience market leader. Their best-in-class technology has made HqO the preferred platform for landlords. We are very excited to partner with the HqO team to help them deliver an unparalleled product with superior technology and client service.”
HqO Leads the tenant experience space with its platform
HqO currently leads the market in tenant experience technology—the company tripled its revenue during the last 12 months and doubled its headcount. The latest funding is expected to advance the company’s growth initiatives at a faster rate. The Series C raise will also allow HqO to continue its commitment to its product through research and development and support any potential mergers and acquisitions going forward.
“Customer demand for HqO’s offering continues to be extraordinary,” Insight Partners’ AJ Malhotra said. “The company helped landlords, property teams, and tenants alike adjust to the changes of the pandemic around the world. HqO is empowering office owners to bring their assets into the future through tenant experience, technology partnerships, and advanced data and analytics capabilities. This is crucial to the success of CRE, and we are excited to continue our partnership with the HqO team as they lead the tenant experience space.”
More than 60 CRE companies around the world use HqO’s offerings, including Vornado Realty Trust, Jamestown L.P., Columbia Property Trust and J.P. Morgan Asset Management. The HqO platform provides landlords and property teams with an advantage in a rapidly changing CRE industry. Meanwhile, HqO provides CRE owners with the technology necessary to create more value by combining the physical and digital office space experience to better engage with their tenants. HqO’s technology activations also provide CRE owners with information that they use to generate the most value for their properties.
“We’re really happy with the composition of our Series C round being led by existing investors, but also bringing together a network of strategic investors setting HqO up for unprecedented growth as the world returns to offices,” HqO Co-Founder and CEO Chase Garbarino said in a statement. “This round of funding is more than just capital; it comes with strategic partnerships that will significantly expand HqO’s reach and differentiate our offering.”
Joe Dyton can be reached at joed@fifthgenmedia.com.
