Ottawa-based Relogix, which has created an analytics platform and IoT sensor technology for workspaces, announced it has completed a Series A round with $4 million CAD in new funding.
“With this investment, we can rapidly add amazing talent to an already incredible team and double down on what has made us successful to date.”
Participants in the round included BDC Capital’s Industrial, Clean and Energy (ICE) Technology Venture Fund, which focuses on businesses enhancing resource productivity, as well as existing investors Mistral Venture Partners and GroundBreak Ventures. Funds from the round will be used to build out Relogix’s team, which currently sits at 24 people, according to the Ottawa Business Journal (OBJ). This Series A brings Relogix’s total funding to date to $6.8 million.
“This investment allows us to accelerate the incredible market success we’ve had to date,” said Andrew Millar, founder and CEO of Relogix. “Relogix combines deep domain expertise in corporate real estate technology and workspace strategy. Customers gain an unprecedented level of intelligence that helps them confidently make key decisions to transform their real estate portfolios.”
Relogix has developed IoT sensors to monitor workspace utilization, workplace design effectiveness, and employee engagement. The startup’s “sensor-as-a-service” offering aims to decrease technology risk, by including its hardware, software, wireless network, and workspace analytics cloud platform in one subscription price. Relogix’s technology allows for the continual monitoring of flexible space, meeting rooms, and other office areas, helping real estate professionals to recognize trends in order to enhance their portfolios.
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The company was founded in 2010, with a vision to offer valuable data to help companies get the most out of their real estate. In August 2018, Relogix raised a $1.4 million seed round led by Mistral Venture Partners. The company has also previously received investments from members of Ottawa’s Capital Angel Network, according to the OBJ.
“The Relogix team is on a roll and the number of global brands who rely on Relogix is very impressive. BDC ICE wants to be a strong partner and support an accelerated growth trajectory, as they drive to the next level of market success,” said Sean Brownlee of BDC ICE, adding that Relogix’s participation in this funding round was based on the market success the company has had to date.
“With this investment, we can rapidly add amazing talent to an already incredible team and double down on what has made us successful to date: offering our customers world-class technology and services,” said Jeff Bennett, COO of Relogix.
Image courtesy Unsplash
