Witco (formally known as MonBuilding), a Paris, France-based provider of a smart building app, raised $14m in Series A funding.
Backers included new investors Daphni, Eurazeo, UL Invest, and business angels, joining Naxicap (a €3bn VC fund) who also invested in earlier funding rounds.
The company intends to use the funds to launch Witco in the UK and expand into Germany and Spain.
Founded in France and led by CEO Eliane Lugassy, Witco provides an app with over 50 customisable modules, which uses real-time data to enable building owners, HR and workplace managers to adapt and organise their premises’ service offerings, as well as communicating with tenants, employees, and residents and responding to their needs. The app centralises all the services offered to occupants to improve the experience of their workplace or living space. Companies can choose the functionalities of the Witco application according to their needs, including room, office or gym reservations, problem reporting, visitor management, internal messaging, event organisation and more.
Witco serves clients across 200 cities, in over 800 buildings and is used by 5000 companies. Its solution has been adapted to offices (HQ and multi-tenants), coworking spaces and managed residential buildings such as Amundi, Swiss Life, IPSEN, Guerlain, AXA IM, Covivio, BNP Paribas Real Estate, Union Investments and Unibail URW.
The company has 50 employees in its offices in Paris, Lyon and Madrid.