French Coworking Startup ShareYourOffice Nabs $2M to launch revolutionary next generation coworking software
French Public fund displays their confidence in the future of the American office market
- French-based startup Share Your Office (Bureaux A Partager), which provides a marketplace to help connect freelancers and small companies with unused office space, announced a funding round of 2 million Euros from Caisse des Dépôts et Consignations (CDC), the largest public bank in France. Though already profitable, BAP took on additional financing to spur its growth in the US. “This fundraising will allow BAP to accelerate its development in France, consolidating its teams, currently 30 people with technical profiles, business and communication, but also to strengthen its brand communication and prepare its international growth,” says SYO’s founder, Clement Alteresco.
While many have become accustomed to think of the San Francisco Bay Area as the birthplace of international startups, a booming European tech scene driven in part by significant investment from the French government has started to reverse that trend. In a space dominated by WeWork, Share Your Office has been able to offer unique value to startups and larger coworking spaces alike, by leveraging its massive user-base of European entrepreneurs to bring diversity to coworking communities in New York and San Francisco. At the moment, over 30% of Share Your Office’s user base directly comes from Europe to look for American Locations.
This movement from France to the US is at the heart of CDC’s investment. The investor is the largest public investment fund in France, through the national bank. Roughly 160 years old, Caisse des Dépôts historically invests in companies it sees having a profitable economic future, ones that will expand and strengthen the economic future of France. They bring a number of things to the table, apart from legitimacy and the symbolic importance of the government investing in the company, they loan a number of their skills, services, and networking help to companies they invest in.
The most exciting development enabled by this new financing is the completion and expansion of BAP’s LINK platform, which offers tools to manage all aspects of operating and maintaining a coworking space. The platform, scheduled for launch in 2017, will enable coworking spaces on its marketplace to scale their business across multiple locations and retain a top-notch experience for their tenants without significant staff increases.
The LINK platform allows space operators to view the current individuals who are located within a space: at any given time, a remote operator can see the number of occupants in a location, their total amount of space available, and better analyze peak hours – all through wifi logins. Furthermore, the technology can allow a single manager to handle all advanced reservations, billing, and contracts through a single platform. Link allows a manager or managers to edit and change contracts as need be without the painful process of going through a PDF editor; instead it has built-in tools to allow a contract to be shifted in multiple ways through a simple drag-and-drop process that can be used for any number of needs.
About Share Your Office / Bureaux A Partager
Now serving over 2,000 active locations, Bureaux A Partager was founded in Paris in late 2012, when CEO Clement Alteresco was looking for new offices for his consultancy, Fabernovel. Alteresco had spent several years in San Francisco, where he had helped to found Parisoma, one of the city’s first coworking spaces. Back in Paris, Alteresco realized that startups in the growing French tech ecosystem needed the same kind of real estate flexibility that Parisoma and other spaces were bringing them in the US, so he built a marketplace to connect companies that had spare office space with young startups looking for desks with flexibility. As the company has grown, they’ve expanded their platform to offer more self-service features while expanding their offerings to include property management.