Proptech Firm Sidespace Seeks $1.6M Funding to Fuel Growth Plans

Proptech Firm Sidespace Seeks $1.6M Funding to Fuel Growth Plans

In a bid to accelerate its mission to revolutionize the commercial real estate market, Proptech firm Sidespace has announced its pursuit of a $1.6 million capital infusion from new and existing investors. The company aims to utilize this funding to achieve an impressive milestone of AUD 12 million ($7.56 million) in annual revenue by the year 2026.

Sidespace has already made a significant mark in the dynamic flex office sector, distinguishing itself as a pioneering player. The company’s strategic focus now lies in expanding its presence across mainstream commercial real estate, where it has successfully executed substantial transactions in the office, industrial, and retail sectors on a national scale.

The company has garnered the support of prominent investors, including Catcha Group founder Patrick Grove, renowned for co-founding iProperty Group, which was acquired by REA Group for AUD 751 million ($473 million). Other notable investors backing Sidespace include Gilles Blanchard, co-founder of France’s top real estate portal Seloger, Mathew Care, Chief Executive Officer of Digital Classifieds Group, and Chad Stephens, Co-Founder of 1Form and Fillr.

Sidespace’s unique business model has already demonstrated remarkable success, facilitating over 1,000 transactions and generating revenue exceeding $2.5 million. Founder and Chief Executive Officer Simon Hanlon explained the distinctiveness of their approach, emphasizing that Sidespace is “tied to the transaction,” freeing landlords and agents from upfront risk and charging only when a lease or sale is achieved. This aligns their interests perfectly with those of their clients.

Notable clients already benefiting from Sidespace’s innovative services include major Australian landlords such as Dexus, BlackWall, The GPT Group, Pellicano, The Deague Group, and Goodman. Corporations like Transdev, Yum! Brands, Lendlease, ANZ, John Holland Group, SEKO Logistics, and Tata Communications have also leveraged Sidespace to secure commercial premises.

Sidespace’s core mission is to revolutionize the commercial real estate search experience for tenants and investors, making it faster and more accessible, all while de-risking advertising efforts and providing landlords and agents with highly qualified introductions on a success-fee basis.

With its sights set on transformative growth and further industry disruption, Sidespace’s pursuit of additional funding promises to reshape the commercial real estate landscape, ultimately benefiting landlords, agents, and clients alike.