The We Company will augment tech stack with SpaceIQ acquisition

We Company acquired space IQ

WeWork is likely to acquire another software company to round out its office management solutions suite. Founded in 2016 and based in the Bay Area, SpaceIQ raised a $7 million Series A at a $17 million valuation in 2017. “SpaceIQ’s cloud-based solution helps companies of all sizes optimize their workplace by analyzing various space-related data, enabling best-in-class workplace management, and delivering an outstanding employee experience” - from the website. If finalized, SpaceIQ would be WeWork’s eleventh acquisition since October of 2017. Other office space solutions acquisitions include building access management company Waltz, spatial analytics platform Euclid, and meeting room management software Teem. The We Company is set to go public in Q4 of 2019 with a hotly debated valuation (US$47 billion) far exceeding competitors currently on the market including Regus under the IWG Group. Adding tech into the flexible office space formula helps WeWork manage a rapidly growing global network of spaces. Software is also part of the value-add to tenants.

Read More about the potential acquisition on CNBC.