Toronto-based Lane, a workplace experience platform, has raised C$10 million in Series A funding. Round13 Capital led the round with participation from return backers Alate Partners and Panache Ventures.
TORONTO – June 11, 2020 – Lane, the world’s leading workplace experience platform, today announced that it has raised $10 million in funding. The Series A round was led by Round13 Capital, with participation from previous investors Alate Partners and Panache Ventures. The funds will be used by Lane to accelerate its global expansion, double its 40-person team by the end of 2020, and deepen its focus on delivering a strong user experience to all members of the workplace.
“Lane is outperforming competitors in the market despite having a fraction of the funding and resources, which is a testament to the quality of the product and team,” said Bruce Croxon, Managing Partner at Round13 Capital. “It was impressive to see the round come together so quickly and it was even more impressive to see it over-subscribed given the times we are in. As teams adjust to a new normal in the workplace, Lane’s ability to remove friction from the process will prove invaluable.” Concurrent with the funding round, Croxon will be joining the Lane board of directors.
Leveraging its proven experience in the Canadian commercial real estate market, Lane first announced its plans for expansion into the U.S. just over a year ago and has quickly grown to become the leader in workplace and tenant experience platforms, boasting the most commercial square feet under management both in the U.S. and globally. Over the past six months, Lane has launched its platform throughout Brookfield Properties’ commercial portfolio in the U.S. and is now deepening that partnership through an international rollout. Lane’s expansion into premier real estate across major cities is also being supported through a partnership with Convene, the leading provider of premium flexible-term office spaces and coworking locations.
“Workplace experience is one of the fastest growing markets in recent years,” said Clinton Robinson, CEO of Lane. “In the wake of COVID-19, there is even greater demand for a strong technology solution that can help property owners and operators orchestrate a safe and secure return to work, effectively manage building communications and operations, and make the workplace a seamless and engaging place to be. With this funding in place, we will be able to expand the reach of the Lane platform and deliver even greater benefit to all members of the workplace.”
Designed to transform the workplace into a thriving, connected ecosystem, Lane is an enterprise SaaS solution that integrates building systems into a single, centralized, and user-friendly digital platform. Lane streamlines all aspects of day-to-day office life for tenants and property managers alike — from room bookings and guest registration to access control and communications to engaging with a building’s retailers and beyond — using data to drive insights every step of the way.
“After seeing great success in our regional portfolio, we are now deploying Lane’s platform to more locations,” said Kristina Schwartz, Senior Vice President, Operations & Sustainability, Brookfield Properties Office Division. “Tenants everywhere are looking to building owners to assist in their efforts to attract and retain the best talent, and Lane’s workplace experience platform allows us to provide an unprecedented connection with tenants and occupants. We look forward to continuing to define and provide a best-in-class workplace experience in partnership with Lane.”
According to a recent Deloitte survey of 750 commercial real estate executives, ninety two percent of respondents plan to maintain or increase their tenant experience-related technology investments.
Amid the current global health crisis, the Lane platform has been instrumental in coordinating a safe return to work. To ensure physical distancing, for instance, Lane enables employees to plan staggered days in the office and book specific arrival times using a centralized calendar. Lane similarly helps retailers manage the flow of shoppers into their stores by allowing Lane users to book specific time windows. An effective crisis management tool, the Lane platform also enables contactless elevator and building access control using QR codes which can be scanned from over six feet away.
With clients such as Colliers, Hullmark, Dream, Atlas, and Kipling, Lane currently powers over 150 buildings across 15 major North American cities, including New York, Los Angeles, Houston, Dallas, San Francisco, Denver, Washington (DC), Toronto, Vancouver, Calgary, and Montreal. As part of its global expansion, Lane is currently launching with new clients in Brazil, Germany, United Kingdom, Australia, and United Arab Emirates.
Lane was founded in 2014 to deliver the future of work to commercial real estate properties around the world. The first technology solution of its kind, Lane’s workplace experience platform addresses the needs of the entire workplace ecosystem — from corporate tenants and their employees, to asset managers and on-site building teams, to retail tenants, visitors, and everyone in between. Putting all the pieces together, Lane turns any workplace into a place that works. To date, Lane has signed up 300 million square feet of commercial real estate globally — the most in the world. For more information, visit https://www.joinlane.com/.