Total amount raised
$156.9 Millions
Latest funding date
10/01/2023
Location
HqO has successfully raised significant funding through multiple rounds, with its latest being a Series D round closed on October 18, 2023. The company is backed by 26 investors, including notable names like Related and Koch, Inc.
HqO's platform is designed to enhance workplace experiences by integrating digital, physical, and personal amenities. Keep reading to explore the intricacies of HqO's fundraising journey and the investors backing this innovative platform.
What Is HqO?
HqO, founded in 2018, is a Boston-based company specializing in commercial real estate, enterprise software, and mobile apps. The company was established by Chase Garbarino, Greg Gomer, Jared Stenquist, and Kevin McCarthy.
With an employee count ranging from 101 to 250, HqO focuses on creating workplace experience technology that integrates digital, physical, and personal amenities. Their platform is designed to enhance tenant experiences and optimize building operations, making it a valuable tool for landlords and property managers globally.
How Much Funding Has HqO Raised?
- Seed Round
- Amount Raised: $6.6M
- Date: September 2018
- Lead Investors: Accomplice
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of HqO's workplace experience technology.
- Series A
- Amount Raised: Not publicly disclosed
- Date: February 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Venture Round
- Amount Raised: $6M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and scale operations.
- Series B
- Amount Raised: $34.3M
- Date: December 2019
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand market reach.
- Series C
- Amount Raised: $60M
- Date: April 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and invest in new technologies.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: July 2022
- Lead Investors: JLL Spark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives and partnerships.
- Series D
- Amount Raised: $50M
- Date: October 2023
- Lead Investors: Koch Real Estate Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel HqO's mission to disrupt the real estate industry and scale the REX Platform.
Total Amount Raised: Over $200M. Current Valuation: Not publicly disclosed.
Key Investors
- Koch Real Estate Investments
- Details: Koch Real Estate Investments is a subsidiary of Koch Industries, focusing on real estate investments. Justin Wilson, Managing Director, is joining HqO’s Board of Directors.
- Investment Focus Areas: Real estate investments, innovative technology, data-driven solutions.
- Notable Investments: Not publicly disclosed.
- Accomplice
- Details: Accomplice is a venture capital firm that invests in early-stage technology companies. They participated in HqO's Series D funding round.
- Investment Focus Areas: Early-stage technology startups, disruptive technologies.
- Notable Investments: Not publicly disclosed.
- Insight Partners
- Details: Insight Partners is a global venture capital and private equity firm investing in high-growth technology and software companies. They participated in HqO's Series D funding round.
- Investment Focus Areas: High-growth technology, software companies, operational excellence.
- Notable Investments: Shopify, Twitter, Qualtrics.
- Related
- Details: Related is a prominent real estate firm involved in development, acquisitions, management, finance, and sales. They participated in HqO's Series D funding round.
- Investment Focus Areas: Real estate development, management, innovative real estate solutions.
- Notable Investments: Hudson Yards, New York City.
- JLL Spark
- Details: JLL Spark is the venture capital arm of JLL, focusing on proptech investments. They participated in HqO's venture round in July 2022.
- Investment Focus Areas: Proptech, real estate technology, innovative property solutions.
- Notable Investments: Not publicly disclosed.
What's Next for HqO?
HqO stands at the cusp of a transformative journey, with the opportunity to expand its Real Estate Experience (REX) Platform globally. The platform, already connecting over 350,000 users across 700 properties in 32 countries, aims to enhance tenant and employee retention, increase net operating income, and drive operational efficiencies. The recent $50 million Series D funding will fuel this expansion, allowing HqO to introduce new products and services, and leverage insights from over 1.7 million people and 8,000+ workplaces.
Future fundraising opportunities seem promising, given the company's growth trajectory and successful Series D round. HqO's focus on technology and customer-centric experiences aligns with industry trends, suggesting potential for additional funding rounds and strategic acquisitions to further enhance its platform and market reach. However, challenges such as adapting to the rapidly changing real estate industry and maintaining a competitive edge in a market with increasing digital disruption remain. Ensuring the REX Platform meets the diverse needs of different stakeholders will be crucial for HqO's continued success.
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