Smartworks invests $25 mn in SaaS venture with new CEO

New Delhi, Dec 13 (IANS) Flexible office space provider Smartworks on Monday announced to invest $25 million in a new venture, and appointed Anuj Nangpal as the CEO to head the initiative.

Called Smartworks Technology Services, the venture will offer a Building Operating Platform and Workspace Management SaaS (software-as-a-service) product targeted at landlords and organisations globally -- centred on new workplace management and experience models.

"Built in-house for improved performance and efficiency, our 400+ clients are already benefiting from these technology solutions. Additionally, these SaaS solutions have also been sold to external enterprise clients," said Neetish Sarda, Founder Smartworks.

The Building Operating Platform will allow landlords to manage their office assets more efficiently and in a sustainable way.

"Uniquely positioned to capitalise on the changing workspace dynamics, we aim to build on the company's existing strengths while identifying new opportunities for growth and innovation," said Nangpal who will also be the Chief Information Officer (CIO) at the new venture.

Nangpal joins Smartworks Technology Services from a $100 million global fund investing in Proptech-JLL Spark.

Smartworks also elevated Nitiraj Shekhawat, Vice President, Technology, as the Chief Technology Officer of Smartworks Technology Services.

The company said it also plans to hire over 100 employees in the next two years.

Founded in April 2016 by Sarda and Harsh Binani, Smartworks has a footprint of about 5 million square feet across more than 32 locations in nine major cities.