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Posted by Richy George on 19 November, 2019This post was originally published on this site
Eden, the workplace management platform that connects office managers with service providers, today announced the close of a $25 million Series B round led by Reshape. Participants in the round also include Fifth Wall Ventures, Mitsui Fudosan, RXR Realty, Thor Equities, Bessemer Venture Partners, Alate Partners, Quiet Capital, S28 Capital, Canvas Ventures, Comcast Ventures, Upshift Partners, Impala Ventures, ENIAC Ventures, and Crystal Towers, among others.
Eden was founded by Joe DuBey and Kyle Wilkinson back in 2015 and launched out of Y Combinator as an on-demand tech repair and support service, sending IT specialists to consumers’ homes to help set up a printer or repair a cracked phone screen. Within the first year, Eden had pivoted its business entirely to the enterprise, helping B2B clients with their IT issues at much cheaper cost than employing an IT specialist full time.
By 2017, Eden had expanded well beyond IT support into other office management categories, like inventory management around supplies, cleaning, handiwork and more. Indeed, revenue shifted dramatically from Eden’s W2 wizards toward third-party vendors and service providers, with around 75 percent coming from third parties.
Today, 100 percent of Eden’s revenue comes from connecting offices with third-party providers. The company is live in 25 markets, including a few international cities like Berlin and London. Eden now has more than 2,000 service providers on the platform.
The next phase of the company, according to DuBey, is to focus on the full spectrum of property management, zooming out to landlords and property managers.
“The broader vision we have is that everyone in the workplace will use Eden to have a better day at work, from the landlord of the building to the software engineer to the office manager, who is our primary client,” said DuBey. “One thing we’ve learned is that there is a meaningful part of the world you can serve by working directly with the business or the office or facilities manager. But it might be the majority of our category where you really need to build a relationship with the landlord and the property manager to really be successful.”
To that end, Eden is currently in beta with software aimed at landlords and property managers that could facilitate registered guests and check-ins, as well as building-related maintenance and service issues.
Eden has raised just over $40 million in funding since inception.
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