XY Sense, a startup based in Melbourne, has secured $5 million in seed funding to meet the increasing demand for its smart sensor technology that assists businesses in optimising their workspaces. The platform combines physical sensors with analytical software to provide real-time insights into office space utilisation, including desk usage and meeting room occupancy. The AI-powered system was launched in 2017 by co-founders Alex Birch and Luke Murray. The funding round includes contributions from Blackbird Ventures, as well as entrepreneurs and angel investors such as former CEO of Outware Mobile Danny Gorog, LIFX CEO Marc Alexander, and Sandy Kory, an investor in Canva and Palantir. The funding announcement coincides with the release of XY Sense’s Software-as-a-Service analytics platform, which is an “evolution” of the company’s capabilities, according to Birch. The startup aims to provide businesses with data to improve the utilisation and effectiveness of their workspaces. The real-time data allows employers to see how their teams are using their workspaces and make informed decisions about long-term workspace arrangements, particularly in the post-COVID-19 era.
New Zealand Provides a Glimpse into the Future
According to XY Sense co-founder, Alex Birch, interest in the company’s workspace analytics platform has grown recently as businesses in certain parts of Australia start to consider the future of their workspaces. To meet this demand, the company has released real-time social distancing and desk integration tools to help companies monitor desk usage, create alerts for social distancing breaches, and effectively target cleaning services. Birch notes that clients are looking for long-term solutions that will remain relevant even after the pandemic subsides. Desk booking has become a popular solution for managing supply and demand in workplaces, but Birch doesn’t believe it will be a permanent fixture in Australian workplaces once restrictions are lifted.
Birch believes that New Zealand provides an interesting case study for how workplaces may evolve in a post-COVID world. While New Zealand currently has fewer social distancing restrictions due to their success in eliminating the virus, Birch notes that there is still less utilization or different utilization of workspaces since the pandemic began. This could be due to people coming into work specifically to collaborate while doing focused work at home. XY Sense is interested in further understanding these changes and what they mean for the future of workspaces.
They’re addressing a significant problem
XY Sense has raised seed funding to expand its team and grow its business in Australia, Asia Pacific, the US, and the UK. The Melbourne-based company, which employs 15 staff, plans to focus on customer service and sales as it aims to target businesses with 1000 desks or more. XY Sense’s founders, Alex Birch and Luke Murray, previously worked in the real estate technology sector and have more than two decades of experience serving their customers. According to Blackbird Ventures partner Nick Croker, who invested in XY Sense, the company is solving a significant problem in the commercial real estate industry, which is worth around $23 billion in Australia alone.
