Valve has raised $4.5 million in seed funding as it works to transform how the flexible office industry operates.
The London-based software-as-a-service company, which offers leasing and scheduling software, will use the funding towards a North American expansion.
Through its services, Valve allows flexible office owners to identify new tenants, sign them up for short-term leases and offers data on availability across the market.
“As offices sort of move to this on-demand model … the need for Valve emerges,” said Francesco DeCamilli, general manager of Valve USA. “Our vision is to build an end-to-end transaction platform. We are a subterranean business enabling the B2B real estate community. There is no B2C element.”
Through its subscription model, Valve is able to charge brokerage firms access to its services. While coworking operators and landlords — including the likes of WeWork — can use the platform for free, Valve also provides a paid service that incorporates marketing software.
Currently, Valve has 25 U.S customers, but DeCamilli projects that it will be able to grow fivefold in the next six months.