Office marketplace Hubble clinches £1.2m funding – a week after Startups 100 win
Investors in the start-up which uses AI to match small businesses to places "they'd love to work" include Firestartr and Seedcamp's new fund Concrete
One week after securing its place in the prestigious Startups 100 2017 index, commercial property marketplace Hubble has announced a £1.2m investment round to build out its platform.
The round was led by Firestartr and also involved 500 Startups, Maxfield Capital and Concrete; the new property technology (proptech) fund backed by Seedcamp and Starwood Capital. The deal marks Concrete’s first investment.
Launched in January 2014 by Tushar Agarwal, Tom Watson and Rohan Silva – founder of Second Home and former advisor to David Cameron – Hubble uses artificial intelligence (AI) technology to connect start-ups and small businesses to their “perfect office or co-working space”.
Users submit details of their preferred location, the number of desks they need, and style of office they are looking for and Hubble promises to return relevant office search results within 30 seconds.
Intended to help small business owners find more affordable work space with greater flexibility through rolling contracts, Hubble has signed up 15,000 businesses with a choice of 1,500 buildings and 15,000 desk spaces across London and Manchester.
The proptech start-up, and former Startups Awards finalist, plans to use the funding to roll-out its AI office agent across the country as it looks to replace human property agents.
Submitting its entry for the Startups 100 2017 earlier this year, Hubble noted that its goal was to become the global leader in its industry and to ultimately match millions of businesses to the “perfect workspace”.
Announcing news of the round and the future for Hubble, co-founder Agarwal commented:
“Hubble is the driving force behind a trend that is seeing traditional commercial property agents quickly becoming obsolete.
“As technology has enabled the number of freelancers and small and medium enterprises in the world to grow at an unprecedented rate, they are rapidly displacing Fortune 500 companies from the physical real estate they traditionally occupy – the bread and butter of traditional agents.”