MELBOURNE, Australia & NEW YORK--(BUSINESS WIRE)--Serraview, the Australian market leader in software and business intelligence that enables the workspace of the future, announced today that the organization has secured several million dollars in financing, led by US-based Tamarisc LLC, a leading impact oriented venture capital firm that focuses on real estate and building innovation. The financing supports Serraview’s 2015 plans for US market expansion.
Serraview enables organizations to create better office workplaces that are more productive, more efficient, and more engaging through efficient utilization of existing and prospective real estate assets. Delivered as a cloud-based SaaS (Software as a Service) platform with local support out of New York, Serraview’s products can increase communication between business units about personnel placement and relocations, reduce the cost of movement, improve the productivity of property teams, and most dramatically, can create multimillion dollar savings in space usage over multi-year lease terms.
“Traditional office planning tools range from pen and paper to custom, complicated spreadsheets – an incredibly inefficient solution to a complex and high cost problem,” said Stephen Macnee, Head of Client Services. “Serraview’s technology redefines the market for space planning and accommodation management – a market with several billion dollars in potential savings every year in the US alone.”
Serraview’s market-dominant position in Australia covers over 50 million square feet of office space, serving upwards of 350,000 workpoints, and is used by 10 of the top 20 largest companies in Australia, including each of the four largest banks, government departments, and industry leaders. Serraview has identified and saved over $100 million in recurring costs for customers in Australia. With ongoing investments into technology and development, the company has been profitable since its inception and continues to grow in multiples.
“Unlike traditional Computer Aided Facility Management (CAFM) systems, Serraview’s products unlock value almost immediately by applying accumulated business intelligence to local problems,” said Alex Birch, Head of Product Delivery . “In order to make smart decisions, property managers need more than just big data – our world class engineers distill massive data sets to provide simple, intelligent and responsive planning tools that can quickly be adapted to a company’s needs.”
In a recent implementation, Serraview’s products enabled a leading financial institution to efficiently reallocate space across their facilities, accommodating 1200 more people while reducing footprint by 11 floors. Through this process, the customer realized cost savings of over $15 million per year in hard cost reductions, reduced waste related to relocations, and created more cohesive team environments with collaborative interactions..
In the next two quarters, Serraview will launch a full US expansion, working with market leaders in technology, finance, and industry to bring efficient space planning to Fortune 500 companies. “We are excited to partner with American companies to provide technology that builds the workplaces of the future, enabling people to be more productive and happy in their office environments. Our success in Australia points to an incredible market opportunity here to optimize the usage of hundreds of millions of square feet of office space in the United States,” said Ian Morley, Head of US Operations.
“Serraview's value-adding services not only deliver exceptional cost savings to the client but also reduce the large carbon footprint associated with powering and conditioning unused workspace, which is significant considering the building sector consumes almost half of all energy produced in the US,” said Tamarisc partner Mark Ferraro, who is also a long-time real estate investor with TMC America. “We are very excited to help bring its innovative real estate utilization platform to the US market.”
In connection with the expansion, Serraview has recruited Boston-based entrepreneur and lawyer Vilas S. Dhar to join its Board of Directors. “Changing the economics of building efficiency at scale requires teams that possess a deep industry expertise and a willingness to redesign basic thinking about office dynamics," said Dhar. "Serraview has consistently demonstrated its ability to design solutions that provide the full 360 degree view. I am confident in the team’s ability to lead the US market.”
To learn more about the Serraview solution, please visit www.serraview.com.
Serraview is Australia’s leading provider of Workplace Management and Optimization software. Its core capabilities focus on providing cloud-based tools to drive efficiencies in corporate space planning, relocation management and utilizing technology to enable smarter, more productive working environments. Learn more at www.serraview.com