PropTech platform Kitt secures £2m
The funding round, led by Proptech investor and YOPA co-founder Andrew Barclay, will also join the company’s board.
Founded in August 2018 by entrepreneurs Steve Coulson and Lucy Minton, the firm has developed a platform for office leasing for both tenants and landlords.
On the platform, tenants can visualise and design their space using VR. By partnering with landlords, Kitt then delivers a fit-out with ongoing office management.
It also enables face ID entry to office buildings and provides a full building management platform with an app that enables them to transform small units into fully managed spaces.
Specialising in growing and maturing companies, Kitt will use the seed investment to deepen its relationship with landlords across London and further develop its technology.
Oren Peleg has joined the firm as its new chairman.
Peleg is the former chairman of Countrywide and former global chief executive of Fitness First; credited with transforming the fortunes of the worldwide health club group.
He also currently acts as the executive chairman of the Kitt co-founders' previous company, JustPark.
“There’s vacant small footprint office space in London and other UK cities that’s perfect for companies who are growing or maturing and want a self-branded, managed space without the disadvantages of co-working,” said Peleg.
“Based on our success to date, we now have big ambitions and Kitt aims to be the largest provider of bespoke managed spaces in London by number of locations by 2020 with plans to roll out to other regional cities.”
Steve Coulson, Kitt’s CEO and co-founder added: “In just a few months we’ve taken on 20 spaces in office buildings in London, and have partnered with dozens of different companies to give them their own unique and fully managed office, designed just for them.
“Increasing numbers of growing businesses feel that shared-working isn’t for them - either because of the high costs or because they want their own brand on their office, not someone else’s.
They also want to design their own fit-out and only pay for the office services they actually need but without the pain-points of traditional leasing. Kitt is able to join up these two different parts of the market very successfully.”