London workspace platform raises £ 3.6million funding after 600% revenue growth
A London workspace platform announced that it has raised £ 3.6million in seed funding as part of its international growth.
Kitt, which provides customizable workspace solutions to tenants through its owner partners, raised funding through a round led by Barclay Ventures.
It comes after the company reported a 600% increase in revenue since August, which it says is due to companies reassessing their workspace needs in the wake of the pandemic.
He said the funding will be used to expand his services nationally and internationally.
Lucy Minton, founder of Kitt, commented: “Businesses across the UK are rushing to bring teams back to the office while re-evaluating their use of space.
“At Kitt, we have experienced 600% revenue growth since August and we expect that growth to continue as offices navigate and understand their team’s changing needs.
“However, the real estate industry is more fragmented than ever and 88% of owners only have one or two buildings. This made it too difficult to find the right office or the right tenant.
“With flexibility high on the agenda, collaboration, creativity and innovation will be at the heart of office design in a post-COVID world.
“The space must be able to bring teams together, improve well-being and rebuild the corporate culture.
“We bring both sides of the equation together to provide the best solution for everyone.”
Cycle investor Andreas Wiele added: “The office rental industry needs huge disruption and Kitt will play a key role in changing the way the industry operates beyond Covid.
“By providing a bespoke solution to tenants, they can plan beyond the next six months and navigate their own version of the office of the future.
“For homeowners, Kitt offers a chance to market space in a new way that allows them to sell office space worth leaving home.”
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