HeadBox bags £1.6m to “unlock value” in more under-used spaces
The funding will help the Startups 100-listed online marketplace to develop new software-based tools for its users as it rolls out internationally
HeadBox, a SaaS (software as a service) driven marketplace through which users can book unique spaces for meetings, events, conferences and more, has today closed a £1.6m funding round led by Egora Holding.
The German-American investment group, which specialises in tech businesses, invested €1m in the start-up.
Launched in 2015 by former Startups.co.uk columnist Andrew Needham, HeadBox claims to boast one of the UK’s largest collections of creative and unusual spaces for hire, a range which includes everything from galleries, cinemas and studios, to cafes, boats, churches, country escapes and treehouses.
In recognition of its growth and success, in May 2017 HeadBox was listed in the Startups 100 index and, according to the business, over the past six months its gross merchandise value, number of bookings and net revenue have all trebled.
A combined 10,000 corporate guests and host venue customers use the service – including high-profile clients such as HSBC, Asos, the BBC, Farfetch, Expedia, intu and Dentsu Aegis – and over 100 companies have signed up to HeadBox Business, a new dashboard which helps clients manage their bookings and payments.
The start-up says it plans to use Egora’s investment to develop software-based tools and services which, like HeadBox Business, will work alongside its online marketplace. The funding will also help to speed up the business’ international roll-out.
Egora is the latest in a string of investors to back HeadBox, whose previous backers include Sir Brian Williamson CBE of Electra Private Equity, LIFFE and R.J Fleming; Martin McCourt, former CEO of Dyson; Johan Svanstrom, global president of Hotels.com; and Ralph Kugler, former main board director of Unilever.
Nikolaus Zwick, managing director at Egora, commented: “Egora supports entrepreneurs with high potential software solutions and technical intellectual property who have the vision to build pioneering companies and become world leaders in their industries.
“HeadBox, with its innovative solution to the common problem of finding and booking unique spaces for work-related events fits perfectly with our investment criteria and has the potential to be the leading SaaS enabled marketplace for creative and inspiring event spaces – both in the UK and internationally.”