Proptech specialist essensys raises GBP33.2m
AIM-listed essensys, a global provider of software and technology to the flexible workspace industry, has successfully raised GBP33.2 million in proceeds through a primary share placing.
The significantly oversubscribed fundraise positions essensys to continue its global expansion through an accelerated go-to-market strategy and product development, among other goals.
Funds raised by essensys are aimed to:
Target a significant land grab opportunity resulting from the massive structural shift in commercial real estate, as landlords respond to the increased demand for flexible real-estate solutions from their customers;
Increase market share in a growing market through its go-to-market strategy, focusing on the key markets of North America, the United Kingdom and Continental Europe and Asia Pacific, with a long-term plan to significantly increase market share across these regions;
Accelerate essensys’ proven strategy by targeting the expansion opportunity within the existing customer base and through developing key, high value, strategic accounts to build a pipeline which underpins significant future runway; and
Accelerate essensys’ product development program to strengthen its existing market position through reducing time-to-market, time-to-differentiation and accelerating disruptive innovation.
“The industry is now looking to create global real estate platforms in response to the rapidly evolving needs of occupiers,” says Mark Furness, founder and CEO, essensys. “This fundraise will further support our ambitious international expansion plans and accelerate our product development roadmap to ensure that we remain at the forefront of the industry’s drive to deliver the next-generation of digitally enabled in-building experiences.
“This latest funding round reflects investor confidence in essensys’ vision, our business model and the company’s ability to support and deliver for our customers. Our goal is to be the first-choice software and technology platform for the world’s leading real estate brands as they continue to unlock the flexible workspace opportunity.
“We want to continue to develop the products that solve the major challenges for the industry, many of which have been accelerated by the pandemic, such as how to successfully combine the operation of flexible and traditional spaces to meet the increasing demand for flexibility, support hybrid working and the efficient operation of these highly amenitised workspaces,” says Furness.
Paramount to this is essensys’ integrated Flex Services Platform designed to enable enterprise multi-site operators and leading CRE players to meet the requirements of today’s occupiers.