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Technology

$30M investment to aid Condeco expansion into US

Global software company Condeco announced that it has raised $30 million to consolidate its position as a world leading provider of workplace management technology.

Led by Highland Europe, the investment, representing a minority interest, will be used to accelerate the company’s expansion across the U.S. and internationally.

As work increasingly moves to the cloud, Condeco is pushing the corporate real estate sector forward into new territory.

The company’s recent acquisition of U.S. unified communications firm myVRM, which enables clients to manage their virtual communication resources as well as their bricks-and-mortar offices, enhances Condeco’s offering and signals the company’s ambitions for continued expansion.

By empowering teams within businesses to meet and interact more efficiently, Condeco is continuing to build a global footprint servicing blue-chip clients.

Its suite of workplace management tools offer game-changing capabilities to meet all the latest workplace demands — from ensuring high-pressure global meetings run smoothly, to providing staff with important collaborative spaces — and have already become indispensable to multinational brands such as Anglo American, Reuters and Unilever.

Paul Statham, founder and CEO of Condeco Software, said: “This investment comes at the perfect time for Condeco, as it will fuel our growth as we pursue further strategic acquisitions across North America, Europe and APAC.

“We will also invest in our solutions for the vitally important SME market in the US. The American market in particular presents a huge opportunity, as companies come under increasing pressure to maximize the value of their real estate.

“Rapidly increasing demand for workplace utilization tools has enabled us to widen our global capability, meaning that we are now reaching 12 geographies worldwide,” he continued.

“We’ve also been able to scale our operations – for instance, through our recent acquisition of myVRM – so that we have the ability to radically transform the way people work. We are very excited to be joining with Highland Europe to start this new chapter in Condeco’s story.”

Laurence Garrett, partner at Highland Europe, said: “In Condeco, we are teaming up with an established, proven business, whose success is matched by their hunger and vision for innovation and further market development.

“Paul is that rarest of breeds – a seasoned operator, fired up with entrepreneurial passion, who’s on track to create a new gold standard in office and workplace technology.

“It’s surely fitting that this investment follows so soon after Condeco’s acquisition of myVRM, because we are certain that Condeco will continue to add scale to its impressive technological prowess for many years to come,” he says.

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