HqO’s Series D Round Brings in $50 Million
The company also announced a new product that it calls HqO Rex Platform.
HqO, which offers so-called workplace experience technology to CRE operators like Edward J. Minskoff Equities, announced that it had closed on a $50 million Series D fundraising round. Leading the round was Koch Real Estate Investments, a subsidiary of Koch Industries. Also participating were existing investors in the company, a press release said.
Justin Wilson, managing director at Koch Real Estate Investments, will join HqO’s board of directors.
HqO says that it has products for landlords (leasing, tenant attraction, and retention), corporations (attracting and retaining talent) and flex providers. The company will use the additional funds to expand its offerings, including a new product it calls HqO REX Platform. HqO calls the product the “first end-to-end experience solution built around the customer” and “the single source of truth for a property, assessing the health and performance of a customer’s experience within it while providing the tools to manage and optimize it.”
It’s not clear how new the product is, as the company wrote, “HqO’s REX Platform has already connected over 350,000 users to real estate, across 700 properties in over 32 countries.” There is also mention of a suite of products called Intelligence, through which “users are able to gain immediate access to global real estate insights from more than 1.3 million employees and over 8,000 workplaces,” using an approach developed by a subsidiary company called Leesman. The Intelligence suite includes REX Assessment, which quantifies employees’ workstyles, preferences, and overall satisfaction; a REX Score that shows the “success of customers’ experiences at a property”; and a REX Index that ranks landlords and tenants.
The REX Platform also includes a marketplace of service and amenity partners.
“As the real estate industry continues to radically evolve, we firmly believe that its future lies in the convergence of innovative technology, data and customer-centric experiences,” says Wilson. “By developing cutting-edge technology and tools that prioritize user sentiment, HqO is not only adapting to the rapidly changing real estate industry, but driving its progression. With HqO’s vision and our investment, we are confident that together we are building a more transformative ecosystem.”