Exchange Tower-headquartered Condeco raises $30m to drive global expansion

Software firm Condeco is looking to increase its global footprint after securing a $30m (£20m) boost.

The investment, led by tech investor Highland Europe, will see London-based Condeco accelerate its plans to expand across Europe, the US and Asia.

Condeco Software’s founder and CEO, Paul Statham, said: “This investment comes at the perfect time for Condeco, as it will fuel our growth as we pursue further strategic acquisitions across North America, Europe and APAC.

“We will also invest in our solutions for the vitally important SME market.”

He continued: “Rapidly increasing demand for workplace utilisation tools has enabled us to widen our global capability, meaning that we are now reaching 12 geographies worldwide.

“We’ve also been able to scale our operations – for instance, through our recent acquisition of myVRM – so that we have the ability to radically transform the way people work. We are very excited to be joining with Highland Europe to start this new chapter in Condeco’s story.”

Earlier this month, Condeco cemented its position within the corporate real estate sector after acquiring US-based communications company myVRM - a move that allowed Condeco to expand its offer by enabling clients to manage their virtual communication resources in addition to their bricks-and-mortar offices.

Highland Europe partner Laurence Garrett commented: “In Condeco, we are teaming up with an established, proven business, whose success is matched by their hunger and vision for innovation and further market development.

“Paul is that rarest of breeds – a seasoned operator, fired up with entrepreneurial passion, who’s on track to create a new gold standard in office and workplace technology.”

From its headquarters at Exchange Tower, Condeco provides workplace management software for a blue-chip client base that includes banking and financial services firm Barclays, consumer good manufacturer Unilever and international news agency Reuters.