- Funding round is led by LAUNCHub Ventures, with additional capital from the co-founders of Telerik, and Constant Tedder, the co-creator of Runescape
- Funding will be used to make OfficeR&D the market leader in the flexible workspace management
- OfficeR&D is a graduate of London-based property tech VC Pi Labs’ pre-seed programme
London, 16 November 2017: OfficeR&D, the London and Bulgaria-based coworking space management platform, today announces the completion of its $1 million seed funding round. The capital investment was led by LAUNCHub Ventures, with contributions from the founders of Telerik, a leading Bulgarian software company, and Constant Tedder, the co-creator of Runescape. The investment will be used to triple the size of the OfficeR&D team and advance OfficeR&D’s product development to keep pace with demand in the rapidly growing coworking industry, while also adding new functionality for real estate and property management.
OfficeR&D is a flexible workspace management solution to help new and existing coworking and serviced offices maximise their revenue and use of space, improve customer online and mobile experience and bring clarity to their fast-growing businesses. OfficeR&D is a full-service white-label solution which brings together all office space and member data into one platform, and boasts integrations with dozens of popular business tools.
With offices in London and Bulgaria, OfficeR&D’s platform is used by more than 100 coworking spaces and serviced offices across 30 countries, and a combined 10,000 members use the OfficeR&D portal every day. OfficeR&D began life at Pi Labs, the London-based property tech venture capital firm, where it was a member of the first cohort of Pi Labs’ pre-seed programme. Pi Labs was also an early investor in the company.
Miroslav Miroslavov, co-founder and CEO of OfficeR&D, said: “We firmly believe that workspace-as-a-service will become the way of working for most if not all small and mid-sized businesses. For flexible workspace operators this brings significant challenges, particularly as they scale up or expand to new locations. Members have come to expect seamless service, and flawless automation is increasingly imperative for a workspace success. This funding round will ensure that we can continue to anticipate and address those challenges for our customers, allowing us to offer the best full-service solution for this dynamic and exciting market.”
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Rumen Iliev, partner at LAUNCHub, said: “The distinctions between flexible, serviced and coworking spaces are blurring, and these spaces will all soon simply be known as ‘the office’. We believe that coworking spaces represent the future of the office, and the market shows no sign of slowing. Coworking space management has been an historically underserved market segment, and we’re delighted to be supporting OfficeR&D on their mission to improve outcomes and quality of service. OfficeR&D has a really beautiful product and Miroslav and his team have a sophisticated understanding of the modern coworking space, and we look forward to seeing OfficeR&D grow over the coming months and years.”
OfficeR&D is a flexible workspace management solution to help new and existing coworking and serviced offices maximise their revenue and use of space, improve customer online and mobile experience and bring clarity to their fast-growing businesses. OfficeR&D was founded by Miroslav Miroslavov and Miroslav Nedyalkov in Sofia, Bulgaria, in 2015, and completed Pi Labs’ property tech accelerator programme in London later that year. Since then, OfficeR&D has become one of the worldwide market leaders in flexible workspace management software, amassing over 100 coworking spaces and serviced offices across 30 countries. OfficeR&D’s customers include Central Working, Us&Co, Halkin, Dogpatch Labs, Centrl Office and many more.
About LAUNCHub Ventures
LAUNCHub Ventures is an early stage VC Fund, based in Sofia and investing in digital startups in the wider Southeastern Europe region. The fund’s portfolio companies are in the fields of SaaS, Enterprise Software, Health-tech, E-commerce, Mobile, IoT, but its investments are not limited only in these verticals. With €30m under total management LAUNCHub Ventures focuses on the seed space with investment ticket size in the range of €300K to 700K, expandable up to €1,5m per company.