Enterprise Workplace Management Solution Saltmine Picks Up US$20M Series A

Jumpstart_New_1500x800_(17)

The funding will be used to drive talent acquisition for Saltmine’s Singapore-based teams, grow its portfolio of large corporate clients, and expand in the APAC region.

San Francisco-headquartered digital workplace platform Saltmine has raised US$20 million in a Series A round of funding, the company announced in a statement today.

Real estate company JLL’s strategic investment arm JLL Spark joined Saltmine as a new investor through the round, the statement said. JLL will be selling Saltmine’s software to its own customers under an agreement with the startup. Existing investors in the company Jungle Ventures and Xplorer Capital also participated in the round, the statement added.

Saltmine’s end-to-end enterprise workplace management solution helps corporations digitally manage office spaces. The company’s founder and CEO Shagufta Anurag is based in Singapore.

The company said in the statement that the funding will be used to hire talent across its sales, customer success, product and engineering teams based in Singapore. It will also aim to grow its client base of Global 2000 companies, which the statement said are looking to rethink office spaces in a “resilient, hybrid manner” after the onset of the global pandemic last year.

Saltmine will also use a part of the funding to drive growth in the APAC region with a focus on Australia, Hong Kong, India and Singapore, the statement said.

“We’re thrilled to have the support of our investors who are committed to the creation of great workplace experiences. Their support is paramount as we enable our customers to digitally transform and optimize their portfolio and bring employees safely back to work in a space that supports the future of work,” Anurag said in the statement.

Saltmine applies cloud, data and digital to workplace design and management

Saltmine allows companies to strategize, optimize and manage workspace design through its cloud-based data-driven digital platform. The solution helps improve employee experience and collaboration at the workplace while reducing costs, the statement noted.

“Real estate is the second-largest cost for companies and has a direct impact on their largest cost—their people,” Anurag noted in the statement.

The platform offers strategy, design, pricing, and portfolio analytics, combined with real-time data from ‘utilization sensors and employee sentiment information,’ according to the statement.

Saltmine was founded in 2017. Its customers include Workday, PG&E and Snowflake. The startup currently has 125 employees spread across five offices in Asia, Europe and North America. It also has partnerships with commercial real estate and design companies such as Space Matrix, Cushman & Wakefield, Newmark and Interior Architects, with JLL being the latest to join this list.

Last year, the company saw a spike of 80% in annual recurring revenue, and 2x growth in number of clients, according to a news report. It also saw 350% year-on-year growth in the platform’s monthly active users. Its customer retention rate is 95%, the company has said, with 50 million square feet designed and analyzed on the platform so far across 1500 projects, the report states.

“Saltmine is an example of [the APAC] region’s ability to build a world-leading, best in class software, which is defining a massive unserved category,” Managing Partner of Jungle Ventures David Gowdey said in the statement.

“Their workplace design software will help large enterprises safely bring employees back into the office, using smart technology. We are proud to partner with Saltmine in their growth journey and support the global team as they scale the business,” Gowdey also said.

In addition to the funding, Saltmine also announced two fresh appointments. Jim Baum, Executive-in-Residence at General Catalyst and Chairman at data company Cazena, will be joining Saltmine’s Board of Directors. The company also appointed Shawn Green as its new Chief Revenue Officer. Green will focus on expanding Saltine’s presence in North America.

Header image courtesy of Saltmine

Update (23/03/21): An earlier version of this story mentioned Fidelity as one of Saltmine’s clients. Saltmine has since requested to retract their name. The article has been revised to reflect this.

SHARE THIS STORY

Share on facebook
Share on twitter
Share on linkedin
Share on email
Sharon Lewis
Sharon is a Staff Writer at Jumpstart

RELATED POSTS

Mental Health Tips for When You Get Back in the Office

Mental Health Tips for When You Get Back in the Office

The COVID-19 pandemic has brought a lot of challenges for employees working from home. As we are fast approaching the post-pandemic world, we have to start getting accustomed to heading back to the office again. No doubt, it is going to be difficult adjusting to the long-forgotten habit of getting ready early in the morning, putting on your finest work clothes, working till 7pm in your suffocating cubicle and dealing with horrible bosses and gossipy colleagues face to face.

Top Three Online Job Portals in China for English-Speakers

Top Three Online Job Portals in China for English-Speakers

China is a fast-growing economy and currently boasts the second-largest economy in the world behind the United States. Many people from around the world have tried searching for jobs and achieving career success in the country. The majority of English-speaking people in China find work in multinational companies that are mostly located in metropolitan Shanghai and Beijing.

How Does a Startup Become a Unicorn

How Does a Startup Become a Unicorn

In the startup world, a unicorn refers to any startup with a valuation of over US$1 billion. Companies like Airbnb and Netflix fall under the unicorn category. As of 2021, there are 650 unicorns in the world with a cumulative valuation of US$2,173 billion.

Meet the Young Woman Who Saved Kenya’s Plastic Waste Problem

Meet the Young Woman Who Saved Kenya’s Plastic Waste Problem

Kenya has a huge plastic waste problem. A 2015 report found that the Kenyan capital Nairobi produced around 400 tons of plastic waste every day. Yet, less than half of that had been recycled. Despite outlawing single-use plastics in 2017, the country is still drowning in them. The Dandora landfill, located in the heart of the Nairobi slums, currently receives more than 2000 metric tons of waste daily.

How Can Your Company Become More Energy-Efficient

How Can Your Company Become More Energy-Efficient?

Countries and companies are consuming too much energy today. The abrupt power cuts in China are a testimony to that. The country was forced to cut power across factories and towns to meet their energy goals. Energy efficiency—using less energy to do more—does not have to be this challenging and cumbersome, not for large corporations or startups.

Cyberport Venture Capital Forum

How Will Humans and Technology Interact in the Next Decades?

While the world has witnessed a rapid digitalization of our everyday life in the course of the pandemic, attention has been brought to the debate that has long been around–how should humans and technology interact? And how do we prepare for new developments? In response to this, Dr. David Siegel, Co-Chairman and Co-Founder of financial sciences company Two Sigma.