A spokesperson for HubStar told BetaKit that following the deal, the majority of the Relogix team has chosen to join Hubstar, and Relogix’s senior leaders have been offered key positions at HubStar.
Relogix’s client base includes Bloomberg, Motorola, KPMG, and Starbucks.
The deal is aimed at combining HubStar’s analytics capabilities and deep learning technology with Relogix’s analytics platform, Conexus. HubStar said the acquisition is hoped to make HubStar a leader in AI-powered workplace utilization intelligence.
Founded in 2010, Relogix offers sensors aimed to help large enterprises measure how often physical office spaces are occupied. The company’s technology enables the continuous monitoring of flex space, meeting rooms, and other areas in an office,allowing real estate professionals to identify patterns in order to optimize their portfolios.
Relogix has raised approximately $7 million in venture capital, including a $1.4-million funding round in 2018 and $4 million in Series A financing in 2019. In 2023, the company launched an artificial intelligence (AI)-powered platform that analyzes office occupancy patterns over months or years using data collected from the company’s sensors.
In addition to Relogix’s sensors and forecasting model, HubStar said the acquisition will also give it access to the Ottawa startup’s partner ecosystem. Relogix’s client base includes a number of large enterprise firms, including Bloomberg, Motorola, KPMG, and Starbucks.
HubStar offers its own AI-powered software to help companies analyze how office space is used, intending to help businesses optimize hybrid workplaces. The firm provides data insights and tools to optimize attendance, occupancy, and workplace experience.
“The next phase of HubStar’s journey will be accelerated by the combination of our AI-powered utilization measurement and hybrid occupancy optimization capabilities with the highly automated, easy to install, no footprint sensors that Relogix is renowned for,” Steve Vatidis, executive chairman of HubStar, said in a statement.
HubStar’s spokesperson said following the deal, which closed January 18, Relogix will continue its Canadian operations uninterrupted. Relogix will retain its brand for its IoT and sensor development, and its Conexus SaaS platform will continue under HubStar’s brand.
Feature image courtesy Unsplash. Photo by Arlington Research.