Last HqO valuation
$300M
Series D · Oct 2023
Last HqO funding round
$50M
Series D · Oct 2023
Cumulative funding HqO raised
$157M
across 5 funding rounds
Key investors in HqO
Accomplice
Insight Partners
Navitas Capital
JLL Spark
DivcoWest
Pritzker Group Venture Capital
About HqO
HqO is a New York-headquartered workplace experience platform that integrates digital amenities, building services, and community features into a single mobile app. The company equips commercial real estate owners and corporate occupiers with tools for wayfinding, booking workspaces, event management, and sustainability tracking. HqO serves properties in major cities including London, Paris, and Sydney while partnering with leading firms like JLL and Hines.
Founded
2018
HQ
Boston, MAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$300M (Oct 2023)
HqO Valuation
HqO is currently valued at $300M, based on its Series D in October 2023. Read the announcement ↗
The $50M round was led by Koch, with participation from Accomplice, Related and Insight Partners.
HqO's valuation has grown 3.6x from $84M at its Series B in December 2019 to $300M in October 2023, across 2 priced rounds.
HqO valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Oct 2023 | Series D | $300M |
| Dec 2019 | Series B | $84M |
HqO Funding History
HqO has raised a total of $157M across 5 funding rounds.
HqO's first fundraising round was a $7M seed round in September 2018. The most recent completed round was a $50M Series D in October 2023.
HqO funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Oct 2023 | Series D | Koch (lead); Accomplice; Related; Insight Partners | $50M | $300M | HqO is a real estate experience platform that provides workplace analytics and tenant/employee experience management solutions for commercial real estate operators. The platform, called REX (Real Estate Experience), measures and assesses property health and performance through data analytics and user engagement tools. As of the Series D announcement in October 2023, HqO's platform connected over 350,000 users across 700 properties in more than 32 countries, with data from more than 1.7 million employees across 8,000 workplaces. The company counts major real estate clients including Vornado Realty Trust, Related Companies, Nuveen, J.P. Morgan Asset Management, Hines, and LaSalle. HqO raised over $50 million in Series D funding led by Koch Real Estate Investments, a Koch Industries subsidiary, with participation from existing investors Accomplice, Insight Partners, and Related. The round brought total company funding to over $200 million. Management stated the capital would be deployed toward merger and acquisition strategy to consolidate fragmented proptech solutions into a comprehensive platform. Prior to this round, HqO had acquired Leesman, an England-based workplace analytics firm, in June 2023, and Office App, an employee engagement platform, in 2022. |
| Apr 2021 | Series C | JLL Spark; Accomplice; Suffolk Technologies; Pagliuca Family Office; Suffolk Capital; PruVen Capital; Allegion Ventures; Cushman & Wakefield; Insight Partners; Navitas Capital; DivcoWest | $60M | - | HqO, a Boston-based tenant experience operating system for commercial office buildings, raised $60 million in Series C funding on April 14, 2021, from investors including Accomplice, Insight Partners, JLL Spark, Navitas Capital, DivcoWest, Allegion Ventures, The Pagliuca Family Office, PruVen Capital, Cushman & Wakefield, and Suffolk Capital. This round brought the company's total funding to $106.9 million, following a $34 million Series B in 2019. The funds were earmarked for scaling operations, expanding footprints in Boston, New York City, London, and Paris, and opening new offices in Toronto, the Midwest, and West Coast U.S. regions, as well as supporting R&D and potential M&A. HqO positions itself as the leader in tenant experience technology, managing over 150 million square feet across more than 60 commercial clients like Columbia Property Trust, Vornado Realty Trust, Jamestown L.P., and Hudson Pacific Properties. Its platform integrates physical and digital office experiences, offering tenant apps, analytics, a marketplace, and tools for landlords to engage occupants and optimize assets. Despite the pandemic, the company reported tripling revenue and doubling headcount in the past 12 months leading to the round, with strong demand attributed to its role in adapting to hybrid work challenges. Investors highlighted HqO's strategic importance in shifting commercial real estate value toward tenant and employee experiences. Insight Partners' AJ Malhotra noted its crucial technology partnerships and data analytics for modernizing office assets. CEO Chase Garbarino emphasized the round's strategic partnerships beyond capital, enhancing reach and differentiation as offices reopen. |
| Dec 2019 | Series B | Insight Partners (lead); JLL Spark; Accomplice; Pritzker Group Venture Capital; Navitas Capital | $34M | $84M | HqO is a tenant experience (TeX) platform for commercial real estate that provides landlords and property managers with technology to enhance the workplace experience and gather data on tenant preferences. The platform integrates with the full stack of building technologies across mobility, property management, retail and community categories, serving as a unified technology layer for connecting with and managing building amenities. In December 2019, HqO closed a Series B funding round of $34.25 million led by Insight Partners, with participation from previous investors Accomplice and Navitas Capital. This brought the company's total venture capital raised to $53 million at that time, making it the most-funded tenant experience solution in the market. The company used the capital to expand its technology platform, double its engineering team from approximately 61 to 120 employees by end of 2020, and accelerate sales and business operations for national and international expansion. At the time of the Series B round, HqO was already powering 70 million square feet of office space across deployments by major landlords including Blackstone's EQ Office, Jamestown, DivcoWest, and National Development, demonstrating strong early traction in the commercial real estate market. |
| May 2019 | Series A | Goodwin Procter; Sam Kennedy; Allegion Ventures; New England Development; Gerald Chan; Mike Gordon; DivcoWest; Stephen Pagliuca | $6M | - | HqO raised $6 million in a Series Unknown funding round on May 31, 2019, from investors including Allegion Ventures, DivcoWest, Gerald Chan, Goodwin Procter, Mike Gordon, New England Development, Sam Kennedy, and Stephen Pagliuca. The Boston-based company provides a tenant experience platform for commercial real estate, offering software that enables landlords to manage access to buildings, parking, amenities, conference rooms, and fitness centers while connecting tenants to local services, events, and community. HqO's dashboard helps property managers understand tenant needs to boost revenue opportunities and retention. By May 2019, HqO had launched its software in 20 million square feet of office buildings and secured deals with major owners like Blackstone’s EQ Office, Jamestown, DivcoWest, and National Development. The company reported record-breaking growth that year, deploying its platform in millions of square feet across iconic assets such as the Willis Tower in Chicago. Investors valued HqO's role in enhancing the tenant experience through IoT-enabled seamless access and people flow in commercial spaces. |
| Sep 2018 | Seed | Accomplice (lead); JLL Spark; Pritzker Group Venture Capital; Jeremy Neuer; Goodwin Gaw; Navitas Capital; David Hirsh; DivcoWest | $7M | - | HqO raised a $6.6 million seed round on September 27, 2018, led by Accomplice, with participation from David Hirsh, DivcoWest, Goodwin Gaw, Jeremy Neuer, JLL Spark, Navitas Capital, and Pritzker Group Venture Capital. The funding supported development of the initial version of its workplace experience technology and establishment of market presence. HqO, founded in 2018 by Kevin McCarthy, Chase Garbarino, and Greg Gomer, provides a tenant experience platform for commercial real estate, enabling landlords to manage tenant-facing tech, amenities, analytics, and a marketplace in one place. |
Who has invested in HqO?
23 investors have backed HqO across its funding rounds, including Accomplice, Insight Partners, Navitas Capital, JLL Spark, DivcoWest and Pritzker Group Venture Capital.
Lead investors include Koch, Insight Partners and Accomplice.
HqO Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Boston, MA | 4 | Lead | Sep 2018 | |
| San Francisco, CA | 3 | Participant | Sep 2018 | |
| New York City, NY | 3 | Lead | Dec 2019 | |
| Los Angeles, CA | 3 | Participant | Sep 2018 | |
| United States | 3 | Participant | Sep 2018 | |
| Chicago, IL | 2 | Participant | Sep 2018 | |
 Dublin | 2 | Participant | May 2019 | |
| Boston, MA | 1 | Participant | Apr 2021 | |
| Boston, MA | 1 | Participant | May 2019 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} Sam Kennedy | Boston, MA | 1 | Participant | May 2019 |
| Jeremy Neuer | -- | 1 | Participant | Sep 2018 |
| Goodwin Gaw |  Hong Kong | 1 | Participant | Sep 2018 |
| Pagliuca Family Office | Boston, MA | 1 | Participant | Apr 2021 |
This data is available for Pro users. Sign up to see all 23 HqO investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by HqO
HqO has acquired 3 companies to date.
Last acquisition by HqO was on January 10th 2024. HqO acquired Symbiosy for undisclosed valuation.
Latest Acquisitions by HqO
| Symbiosy | |||
| Description | Symbiosy is a smart-building technology business developed inside the Slovak real estate developer HB Reavis to connect building systems, sensors and workplace software. Its modular product set integrates building management systems with IoT devices and provides occupancy, environmental and collaboration analytics through interfaces for landlords, facilities teams and employees. It was built up from 2019 within HB Reavis's own offices and deployed in the developer's buildings and for third-party occupiers in European markets including London, Berlin and Warsaw before being sold to HqO. | Leesman is a London-headquartered research organization assessing workplace effectiveness. It maintains the world's largest independent database of post-occupancy evaluation data from over two million employee surveys across 6,000 buildings. Leesman provides benchmarking indices and insights for workplace strategy in Fortune 500 companies. | Office App is an Amsterdam-headquartered workplace engagement platform launched in 2014. It provides mobile apps for building access, service bookings, and community events in corporate offices. Deployed in properties across the Netherlands and Belgium, it integrates with IoT for desk reservations and visitor management. Clients include WeWork spaces and tech campuses in Rotterdam. |
| HQ Country |  |  |  |
| HQ City | Bratislava | London | Amsterdam |
| Deal Date | 10 Jan 2024 | 14 Jun 2022 | 19 Oct 2021 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all HqO acquisitions and their M&A valuation multiples. Start Free Trial | |||
HqO Competitors
HqO competitors include listed companies like 8x8, Beijing Seeyon Internet, Netcall and Route Mobile, and private ones like The Interaction Company of California and XMTP.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $300M | - | |
| Austin, TX | Private | - | - | $300M | - | |
| United States | Publicly listed | $736M | $52M | $300M | 0.8x | |
| China | Publicly listed | $136M | ($32M) | $297M | 1.5x | |
| United Kingdom | Publicly listed | $64M | $11M | $294M | 3.3x | |
 India | Publicly listed | $464M | $44M | $294M | 0.3x |
HqO Public Comps
HqO is still privately-owned, but its public comps include 8x8, T&M Group, Beijing Seeyon Internet, Moura Dubeux, Paz, Alianza Trust Renda, Netcall, Route Mobile, Seaport Entertainment and Peach Property Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $736M | $52M | 0.8x | 0.8x | 11.0x | 6.2x | |||
| $557M | $24M | 0.5x | - | 10.6x | - | |||
| $136M | ($32M) | 1.5x | 1.5x | (6.3x) | - | |||
| $434M | $93M | 0.9x | 0.7x | 4.0x | 3.3x | |||
| $199M | $9M | 3.1x | - | 67.7x | - | |||
| $20M | - | 10.8x | - | - | - | |||
| $64M | $11M | 4.1x | 3.3x | 25.3x | 15.4x | |||
| $464M | $44M | 0.3x | 0.3x | 3.5x | 2.8x | |||
This data is available for Pro users. Sign up to see all HqO competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HqO
| When was HqO founded? | HqO was founded in 2018. |
| Where is HqO headquartered? | HqO is headquartered in Boston, MA, United States. |
| Is HqO publicly listed? | No, HqO is a private, VC-backed company. |
| What is HqO's valuation? | HqO was last valued at $300M in its Series D in October 2023. |
| How much funding has HqO raised? | HqO has raised $157M across 5 funding rounds. |
| What was HqO's last funding round? | HqO's last funding round was a $50M Series D in October 2023, led by Koch. |
| Who are HqO's investors? | HqO's investors include Accomplice, JLL Spark, Insight Partners, Navitas Capital, DivcoWest, Pritzker Group Venture Capital, Allegion Ventures, Suffolk Technologies, Goodwin Procter, Sam Kennedy and 13 others. |
| Which companies are comparable to HqO? | Companies comparable to HqO include The Interaction Company of California, XMTP, 8x8, Beijing Seeyon Internet, Netcall and Route Mobile. |
| How many companies has HqO acquired? | HqO has acquired 3 companies, including Symbiosy, Leesman and Office App. |
See companies similar to HqO
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