Proptech Companies Equiem Acquires Workplace Management Vendor spaceOS

Equiem, a vendor of commercial real estate tenant experience software, announced that it had acquired European workplace management software company, spaceOS.

“The acquisition will expand Equiem’s footprint to over 25 countries and grow the suite of features available on its ‘EquiemOne’ platform, increasing revenues by 20 percent,” the company claimed.

The company also announced additional investment from Hitachi Ventures, BeyondBuild, German developer MOMENI, Caleus, and others. The total additional investment was not disclosed. Startup data site Crunchbase lists Equiem as having raised a total of $8.4 million as of July 7, 2021.

The funds will allow integration of spaceOS’s technology into the EquiemOne platform.

Equiem’s systems can provide ways that let CRE landlords and operators offer features like space access control; property orientation, information, and news; a marketplace for tenant services and goods; facilities booking; and control of building operations and management.

In addition, the systems can provide owners and operators a way to visualize operations for more efficient management and operations, according to the company.

“The office is in a different place now, the need for flexible spaces and collaboration in a hybrid model is changing the way we gather the most critical information for making decisions,” the release quoted Equiem CEO Gabrielle McMillan as saying. “Real estate is finally adopting tech, but it needs it to all work together, seamlessly, from security and access, to operations, flex space bookings to events and community engagement, this all needs to sit in one platform. And access to this platform has to transcend the workplace. It has to be global.”

This is the second major acquisition the company has undertaken in two years. “Further bolt-on acquisitions are on the horizon for the combined company to strengthen its market leading positions in various geographies,” they said.

The products from spaceOS include a building operating system and tenant engagement platform, which sound familiar to what Equiem already has developed. In addition, there are systems for managing flex and hybrid office environments.

David Adams, Equiem chief product officer, was quoted as saying the ability to offer the flex management system “to asset managers and facilitate managing, marketing, and selling space-as-a-service on one integrated platform” was as a major benefit. “We are also working on a lightweight toolkit to streamline core, day-to-day operations in B and C class commercial properties.” Another attractive feature to the company was “the extensive access control integration service of spaceOS.”