Today Kitt, a UK company that helps businesses set the right work place or redesign it the way they want using smart technology, has raised £3.6 million in a seed round led by Barclay Ventures which brings the total amount raised to date to £5.6 million. The funding is expected to scale the company nationwide as well as expand globally.
Founded in 2018 by Lucy Minton and Steve Coulson, Kitt provides a “fully customizable workspace solution to tenants via its landlord partners”. Their main aim is to attract post-COVID companies to renovate office spaces that they can call their own and as a matter of fact they do just that with companies like Oatly, Nested and PZ Cussons Beauty being among their clients. And Kitt also does it with no upfront costs, flexible terms, no co-working distractions and hassle free, using automation to skip functions undertaken by office managers.
One of the company’s founders, Lucy Minton said that “Companies across the UK are rushing to get teams back to the office while re-assessing their use of space. At Kitt, we have experienced a 600% growth in revenue since August and we expect this growth to continue as offices navigate and understand the changing needs of their team. However, the property industry is more fragmented than ever and 88% of landlords have just one or two buildings. This has made finding the right office or tenant overly difficult.”
Each space is visualized through a fully immersive VR design process before being built around the needs of each business. Kitt offers a range of on-demand services to its tenants via its mobile app, which are then delivered through a proprietary operating system. Each space is tech-enabled with app-based entry systems, remote receptionists and security systems, allowing for a seamless tenant experience.
Minton also added: “In short we have built a platform to allow us to operate any space of any size. We work with landlords essentially to repackage their space as a service provider. So from an operating model point of view, we can deliver space remotely into clients’ offices anywhere, and from a product point of view, everything is run through our space app.”
Source: TechCrunch “Kitt, an office-outfitter-as-a-service raises $5M Seed round led by Barclay Ventures”