Saltmine raises USD20 million in Series A round

Mumbai: Saltmine, the leading end-to-end digital workplace platform enabling the world’s largest corporations to digitally and seamlessly optimize and manage their office space, has announced its USD20 million Series A funding.

The round included a new investment from JLL Spark, the strategic investment arm of commercial real estate services firm JLL, as well as participation from existing investors, Singapore-based Jungle Ventures, and Xplorer Capital. In addition to its capital investment, JLL has entered into an agreement to sell Saltmine’s software directly to its customers, creating a powerful distribution channel for Saltmine’s innovative platform.

Founded in 2017 to serve a global client base, Saltmine has grown to more than 125 employees in five offices across Asia, Europe, and North America – with its headquarters in San Francisco. It is now looking at expanding its client base in India which remains a stable and attractive office-property market despite the COVID-19 setback last year.

With the new financing from the Series A round, Saltmine will continue to invest in talent acquisition – with a focus on growing its sales, customer success, product, and engineering team. It will also expand its portfolio of Global 2000 companies, many of which are seeking to re-invent their offices in a resilient, hybrid manner amid the global pandemic. In addition, this will also accelerate the firm’s growth in the Asia Pacific – particularly in markets like Australia, Hong Kong, and Singapore.

Shagufta Anurag, Saltmine’s Founder & CEO, said, “Real estate is the second-largest cost for companies and has a direct impact on their largest cost – their people. We’re thrilled to have the support of our investors who are committed to the creation of great workplace experiences. As organizations continue to mature in India, they are looking to now adopt world-class technology and processes to manage their workplace. The pandemic has accelerated that trend, and we now believe the timing is right to further increase Saltmine’s adoption in this market.”