In this Research Note, we examine trends in job losses in the smart buildings startup space. Part 1 of this series covering job losses in the Building IoT and digital twin platforms sector, can be found here.
This Part 2 analysis is based on LinkedIn headcount reduction data over the past two years and our own compilation of statistics relating to startups undergoing redundancies, restructuring and downsizing. 10 examples of job losses in the occupancy analytics and workplace experience sector are highlighted.
Smart Buildings Job Lossess in Workplace Technology
Founded in 2014, Density, based in San Francisco, CA, USA provides people counting sensors and an occupancy analytics platform. With total funding of $225 million and a company valuation of $1.05 billion in November 2021, Density was considered as the first Occupancy Analytics unicorn.
As of October 2023, Density had 141 employees, a 30% headcount reduction over the last year and an 18% decrease since October 2021.
Founded in 2018, Boston, USA-based HqO offers a tenant experience operating system for commercial smart buildings.
As of October 2023, HqO had 160 employees, a 28% headcount reduction since October 2021 and a 26% decrease since October 2022.
Founded in 2015 in Zurich, Switzerland, Locatee offers a smart buildings platform designed to collect data from an IT network and other systems and provide real-time workspace insights to Corporate Real Estate teams.
As of October 2023, Locatee had 24 employees, a decline of 61% over the last two years since October 2021 and a decrease of 54% since October 2022.
Founded in 2013 in Delft, Netherlands, Mapiq BV offers a solution for flexible work environments or activity and needs-based working, built around an intelligent 3D map which indicates the location of free workspaces and meeting rooms, also where to find colleagues or free lockers and solutions to personalize a user’s individual environment.
As of October 2023, Mapiq had 74 employees, a decline of 26% over the last six months since April 2023.
Founded in 2015 and headquartered in Ottowa, ON, Canada, Relogix offers a smart buildings workplace analytics solution with a patented predictive forecasting model.
As of October 2023, Relogix had 27 employees, a decline of 31% over the last two years since October 2021 and a decrease of 21% since October 2022.
Founded in 2017 and headquartered in Singapore, Smarten Spaces is a provider of a smart buildings hybrid workplace platform.
As of October 2023, Smarten Spaces had 78 employees, a decline of 25% over the last two years since October 2021 and a decrease of 13% since October 2022.
Founded in 2015 in the Czech Republic, Sharry is a workplace experience platform for offices and smart buildings. Their solution brings multiple touch points to redefine the workplace experience, including mobile access with Apple Wallet support, smart parking, hybrid work, visitor management and employee engagement.
As of October 2023, Sharry had 47 employees, a decline of 23% over the last year since October 2022.
In May 2022, Swedish investment and real estate firms, Hydda Group and Vasakronan together acquired majority ownership of Spaceflow, a Czech user-centric tenant experience platform provider which connects tenants, landlords, visitors, property management, service providers, specialized hardware and IoT vendors.
As of October 2023, Spaceflow had 29 employees, a decline of 42% over the last year since October 2022.
SpaceOS and Equiem
In May 2023, Equiem, an Australian vendor of smart buildings tenant experience software, announced that it had acquired European workplace management software company, SpaceOS. Founded in Poland in 2016 and headquartered in Dublin, Ireland, the SpaceOS platform was expected to expand recurring software revenue by 20%.
As of October 2023, SpaceOS had 41 employees, a 25% decrease in the last year since Oct 2022, while Equiem showed a 12% headcount reduction in the same period, down to 152 employees.
This article was written by Daphne Tomlinson, Senior Research Associate at Memoori.