ATLANTA & AUSTIN, Texas--(BUSINESS WIRE)--OfficeSpace Software, Inc., the creator of better workplaces, announced today that it has received an approximately $150 million strategic investment from Vista Equity Partners, the leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses. Vista’s partnership will enable OfficeSpace to continue bringing the future of the hybrid workplace to life for customers and accelerate its efforts to help organizations navigate workplace disruptions and manage workspace dynamics. Existing investor Resurgens Technology Partners is excited to remain a significant investor in the company.
The new investment from Vista enables OfficeSpace to continue building upon its industry-leading platform, empowering organizations to continually enhance and evolve their workplace strategy, including how they’re allocating their real estate investments and enabling employee productivity through insightful dashboards and reporting. As organizations embrace hybrid work and continue to evolve their return-to-office decisions, OfficeSpace’s cloud-based platform allows customers to simplify how their employees utilize and interact with their workspace, manage desk and room booking, maintain social distancing, and navigate the numerous large and small workplace decisions that companies require in an ever-changing world. The platform serves as the system of record for digital office floorplans and provides workflow tools for human resources and facilities management teams.
With increasing complexity of day-to-day management of workplaces worldwide, OfficeSpace has experienced tremendous growth and has greatly expanded its offerings to meet the rising demand for an intuitive, robust platform for workplace operations. Recently, OfficeSpace launched Neighborhoods, a feature designed to manage the new hybrid reality, enabling customers to manage the return to the workplace. By simplifying flexible seating on a large scale, Neighborhoods provides maximum flexibility to employers in how they can organize their offices – where they choose to group seats and people together by team, project, space type, or collaboration needs, and optimize as needed.
“This is a milestone moment for OfficeSpace as we help our clients navigate the future of work,” said David Cocchiara, OfficeSpace CEO. “We pride ourselves on going above and beyond to support our customers, and this investment allows us to carry on and evolve the service excellence our clients are accustomed to. We’re thrilled to receive support from Vista and continue our partnership with Resurgens, who believe in our vision of creating a better place for everyone, wherever work happens. I’m incredibly proud of our team, and we are ready to build on our strong foundation and continue to bring exceptional value to our customers.”
The investment in OfficeSpace was led by Vista’s Endeavor Fund, which provides growth capital and strategic support to market-leading, high-growth enterprise software, data, and technology-enabled companies that have achieved at least $10 million in recurring revenue. Endeavor partnerships focus on growth, market strategy, talent, and customer success – building enduring businesses designed to scale. Founders and management teams benefit from the expertise and support of Vista and its global ecosystem to deliver unparalleled value to their customers, unlock the potential of their employees and accelerate market leadership.
“There is no question that OfficeSpace has built the market-leading software solution for companies who are addressing difficult questions about the evolving workplace,” said René Stewart, Co-Head of Vista's Endeavor Fund and Senior Managing Director. “David and his team have built an exceptional platform and have turned so many clients into passionate believers—including many of our own portfolio companies. We are proud to back OfficeSpace as they continue to improve the employee and workspace experience.”
“In the more than two years we’ve partnered with OfficeSpace, we’ve seen a dramatic change in the way the world works, and the rise of flexible workspace. We remain confident that OfficeSpace is uniquely positioned to continue to innovate and enhance the employee experience, and we’re thrilled to continue our journey with their exceptional leadership team,” said Fred Sturgis, Co-Founder and Managing Director at Resurgens.
About OfficeSpace Software
OfficeSpace simplifies the workplace for dynamic organizations. Its innovative platform, intuitive experience, and invested team provide the integral, strategic tools necessary to engage in the workplace. From space management and social distancing to desk booking and employee requests, OfficeSpace provides the flexibility and agility forward-focused companies need to manage their current workspace – and create a better place for everyone. Learn more about what we’re doing to help manage the dynamic workplace at www.officespacesoftware.com.
About Vista Equity Partners
Vista is a leading global investment firm with more than $86 billion in assets under management as of September 30, 2021. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit, and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
About Resurgens Technology Partners
Resurgens Technology Partners is a tech-focused private equity firm investing in North American and select European lower middle-market application and IT/infrastructure software businesses. Resurgens’ growing team offers a diversity of investing, operating and talent management experience, applying an active and engaged value creation approach with each portfolio company. Resurgens is headquartered in Atlanta, GA, with additional professionals located in Austin, London and Silicon Valley. For more information, visit www.resurgenstech.com.