Venture-backed Lane buys proptech company eServus

Lane has acquired Toronto-based eServus, a provider of concierge and tenant engagement services to the real estate industry.

Lane has acquired Toronto-based eServus, a provider of concierge and tenant engagement services to the real estate industry. No financial terms were disclosed. Toronto-based Lane, a workplace experience platform, last year closed a US$10 million Series A financing led by Round13 Capital and joined by Alate Partners and Panache Ventures.

PRESS RELEASE

Workplace experience platform has acquired eServus, a tenant engagement company that delivers property management services to more than 250,000 customers across the US and Canada.

The acquisition reflects Lane’s long-term mission to power the entire workplace ecosystem.

“eServus has a stellar reputation for tenant engagement in the commercial real estate space,” says Clinton J Robinson, CEO and Co-Founder of Lane. “Their lobby ambassador program, content, and corporate partnerships will complement Lane’s technology-based offerings and allow us to foster even greater connections between each and every member of the workplace.”

Combining the convenience of online ordering with discounts on movie tickets, hotels, car rentals, gym memberships, restaurants, and more, eServus has helped property owners and managers engage and retain tenants since 1999. Through its tenant engagement services arm, eServus allows building teams to plan and execute everything from events and social media to tenant satisfaction surveys and newsletters.

“We’re excited to be joining forces with Lane to provide property managers with a truly unique spectrum of services,” says Kirk Layton, President and Founder of eServus. “Combining eServus’s tenant engagement tools with Lane’s market-leading technology creates an unbeatable tenant engagement solution for the commercial real estate industry.”

With the acquisition of eServus, Lane will add 25 new clients, 300 properties, and 70 million square feet to its portfolio, cementing its position as the global leader in workplace experience for the commercial real estate industry. With eServus’s exceptional perks programming and concierge services, Lane will be able to drive even more robust tenant engagement through its web and mobile platform—alongside other offerings like room bookings and data analytics—as part of its mission to transform the workplace into a seamless, connected ecosystem.

“We are excited to see the synergy that eServus and Lane will create together in delivering a best-in-class workplace experience to property managers and their tenants,” says Bruce Croxon, Managing Partner at Round13 Capital. “This marks an exciting beginning of consolidation—both in the proptech market and for the workplace ecosystem itself. ”

The acquisition follows Lane’s Series A raise of USD10 million in June and will contribute to the company’s overall growth in headcount, which has doubled since the beginning of the year. The acquisition also reflects part of a bigger trend in the industry to consolidate the fragmented proptech market, as well as Lane’s mission to deliver an integrated, end-to-end workplace experience. Finally, the acquisition will help diversify Lane’s portfolio with new CRE, enterprise, and flex space clients.

Designed to transform the workplace into a seamless, connected ecosystem, Lane’s web and mobile technology streamlines all aspects of day-to-day office life for tenants and property managers alike — from room bookings and access management to e-commerce, building communications, data, events, and beyond.