Highland Europe’s new €332 million fund promised to help fill the €10-30 million ‘growth gap’, and, true to its word, the VC firm’s latest invest sees it lead a €27 million ($30m) Series A round in London-based Condeco. The startup offers what is calls workspace utilisation and meeting room scheduling software to blue-chip clients.
The company recently added another string to its bow too, acquiring U.S.-based unified communications company myVRM, to enable Condeco clients to manage their virtual communication resources as well as their bricks-and-mortar offices.
Today’s funding round, which is significantly high for a Series A outside of Silicon Valley and in Europe in particular, will be used by the startup to consolidate what it claims is its leading position as a provider of workplace management technology.
“This investment comes at the perfect time for Condeco, as it will fuel our growth as we pursue further strategic acquisitions across North America, Europe and APAC. We will also invest in our solutions for the vitally important SME market,” says Paul Statham, founder and CEO of Condeco Software, in a statement hinting to where the startup’s growth may come from.
The startup’s blue-chip clients include multinational brands, such as Barclays, Reuters and Unilever. Its workplace management software tools helps with things like ensuring meeting runs smoothly, and managing and providing staff with spaces to collaborate, both physically and virtually. The company has a presence in 12 locations around the world, with operations in the U.S., EMEA and Asia Pac, and a headcount of over 250.