HqO, the real estate experience platform, announced that it has raised over $50 million in Series D funding to fuel the company’s mission to disrupt the real estate industry. The funding round was led by Koch Real Estate Investments, a subsidiary of Koch Industries, along with participation from many of the company’s existing investors, leading venture capital and commercial real estate firms including Accomplice, Insight Partners and Related. The additional capital brings the company’s total funding to over $200 million, bolstering an already strong balance sheet and positioning the company to continue executing on its targeted M&A strategy.
“As the real estate industry continues to radically evolve, we firmly believe that its future lies in the convergence of innovative technology, data, and customer-centric experiences,” said Justin Wilson, managing director at Koch Real Estate Investments, who is also joining HqO’s board. “By developing cutting-edge technology and tools that prioritize user sentiment, HqO is not only adapting to the rapidly changing real estate industry but driving its progression. With HqO’s vision and our investment, we are confident that together we are building a more transformative ecosystem.”
There has been a fundamental evolution in the real estate economy as space has moved from a required commodity to a service, and now to an experience. In response, HqO has created a new market category, the real estate experience (REX), putting the customer and their experiences of space at the center of this significant market transformation for the first time.
In addition, HqO is continuing to scale and innovate its customer-centric product offerings with the launch of the HqO REX Platform, an end-to-end experience solution built around the customer. HqO’s REX Platform answers many pain points across the real estate ecosystem for owners, operators and occupiers alike. Through a suite of powerful applications and services, the REX Platform is the single source of truth for a property, assessing the health and performance of a customer’s experience within it while providing the tools to manage and optimize it, all from one central location. This is proven to boost tenant and employee retention while increasing net operating income and driving efficiencies in operating costs.
Building on the success of HqO’s existing real estate experience product, now called Experience Manager (XM), which has powered over 400 million square feet around the world, Intelligence is the newest and most disruptive product within the REX Platform. Through this offering, users are able to gain immediate access to global real estate insights from more than 1.7 million employees and over 8,000 workplaces, collected through the proven methodology of Leesman, an HqO company and a workplace experience data source and benchmarking framework. Additionally, users can gather property-specific insights by deploying Intelligence at their properties.
The Intelligence suite of products includes:
- The REX Assessment — A tool for quantifying employees’ workstyles, preferences and overall satisfaction within a physical space.
- The REX Score — The quantified value operators and occupiers get from a building using data from the REX Assessment to show the success of customers’ experiences at a property, which directly correlates to how likely a property is to achieve high occupancy, attract and retain tenants, and generate revenue.
- The REX Index — The industry’s first global real estate user experience indicator, benchmark and tool for certifying and exploring properties through the lens of people’s experiences, ranking the landlords and occupiers with leading REX Scores
HqO’s REX Platform also includes Marketplace, an exclusive ecosystem built for HqO’s customers, both operators and occupiers, to help deliver optimal experiences for end-users of real estate by providing access to and integration with a growing directory of the most impactful and desired services and amenity partners.
