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Tenant engagement platform raises $60M as COVID drives demand for remote interaction

Tenant experience operator HqO has raised $60 million to grow its platform after a year of unprecedented growth as the corona virus drove demand for online building services and remote interaction.

Previous investors Accomplice, Insight Partners, JLL Spark, Navitas Capital, DivcoWest, Allegion Ventures, and The Pagliuca Family Office participated in the round, joining new investors PruVen Capital, Cushman & Wakefield, and Suffolk Capital.

The company has raised $106.9M to date and said it will use the funds to support its rapid growth, expanding its existing footprints in Boston, New York City, London, and Paris, as well as opening new offices in Toronto and the Midwest and West Coast regions of the United States.

HqO is a  leader in tenant experience technology with more than 150 million square feet under management. The company tripled its revenue in the past 12 months and doubled its headcount.

“Customer demand for HqO’s offering continues to be extraordinary. The company helped landlords, property teams, and tenants alike adjust to the changes of the pandemic around the world,” said AJ Malhotra at Insight Partners.

“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.”

HqO services over 60 commercial real estate clients worldwide, including Columbia Property Trust, Vornado Realty Trust, Nuveen Real Estate, Jamestown L.P., Hudson Pacific Properties, Grosvenor, Landsec, J.P. Morgan Asset Management, and Endurance Land.

By using the HqO platform, landlords and property teams are armed with technology that blends the physical and digital office experiences to engage with the people who occupy their buildings.

HqO Co-Founder and CEO Chase Garbarino said, “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. 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.”

“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. 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,” said Travis Skelly at PruVen Capital.

“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.”

“We’re proud investors in HqO since 2018 and excited to support them as they expand their industry-leading tenant experience platform and technology leadership,” said Yishai Lerner, Co-CEO at JLL Technologies. “HqO is a must-have product for any landlord seeking to retain, attract and build stronger relationships with their tenants.”

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