Australia-based office space search engine Jagonal is the first applicant to make it past the selection panel and is on its way to pitch to investors at the 2016 Property Portal Watch Conference in Madrid.
Chief Marketing Officer and co-founder Max Sim, who also attended the PPW Bangkok conference says the team is "very excited, over the moon, honoured and excited" about the prospect of showcasing their platform to a select group of leading investors and 400 C suite execs from around the world.
Jagonal stepped in to fill a gap in which the $6 billion global market for office space ($100m in Australia) plays the ‘poor cousin’ to residential real estate listings online.
Officially launched in February this year, Jagonal is a powerful search engine that allows tenants and investors to find office space using 50+ search criteria such as parking, showers, bike racks, natural light and child care facilities.
Based in Sydney Australia, it can tailor searches as closely as ‘office for 20 people on George Street’, ‘small office for 5 people’ or ‘budget office for 15 people’, ‘office for 10 people near Wynyard station’.
Jagonal started in beta 12 months before it launched, raising seed capital of $2.3 million through the input of friends and family who believed in the concept. It now commands 64 per cent of vacant office space in Australia.
The company is now seeking funding from private individuals and venture capital funds in a new round of Series A capital to accelerate expansion into Singapore and Asian markets.
They say Jagonal’s short to mid-term plan is to extend the platform's lead from a user experience with a focus on, data and search engine technology in order to ride the trend of users demanding more from commercial real estate sites.
“Regionally, our longer-term strategy is to use Singapore as an entry point to the burgeoning Asia Pacific market – particularly Malaysia, Hong Kong, Indonesia, Philippines and Thailand," Brown says.
“We also plan to expand our product offering to include industrial and retail property. As the recent $751 million REA Group purchase of iProperty shows, the region is growing - there are 300 million people on our doorstep and that’s a lot of businesses that need offices
“Some $73 billion of Chinese investment is expected to flow through our sector by 2019 and we want to be positioned as a one-stop-shop for comparison of commercial property deals in the region.”
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Successful applicants who have registered for the 2016 Property Portal Watch Conference in Madrid will present to a select group of leading investors and 400 C Suite Execs from around the world on the last day of the conference, Friday September 30, 2016.