Wurkr, a London-based ‘Office in the Cloud’ company, secures £1M as growth capital
London-based SaaS platform Wurkr lets teams work together from anywhere in an immersive virtual workspace. Now, the company is focusing on its growth with the new funding secured.
Funding round led by HMVL
Wurkr raised over £1M seed funding led by Hindustan Media Ventures Limited (HMVL), which is one of India’s largest media companies. It pumped in investments of £700,000 and £188,000 raised through equity crowdfunding platform Seedrs, where Wurkr beat its original funding target by 25 percent with over 200 investors taking part. Besides this, angel investor Yan van de Velde committed £100K as Seedrs lead investment round and an additional £100K. Wurkr also exercised a Convertible Loan Note to secure further cashflow.
The fresh funding will be used by the ‘Office in the Cloud’ company to accelerate global growth, expand the team, further develop the product and maximise advertising and marketing activities
Annil Chandel – CEO & Founder, Wurkr, commented: “We’re delighted with the outcome of our fundraising efforts. Wurkr is emerging as a start-up success story, as we worked to expand during the pandemic crisis in an economically challenging landscape. Since our launch, we were able to develop the business without government grants, and this seed funding round helps to position us strongly for the next phase of our growth strategy. The incredibly high calibre of our investors is testament to the very real and needed solution that Wurkr’s platform brings to the market.”
Anirudh Singhal – Head of Strategic Investment, HMVL, added: “We are delighted to lead the seed funding round of Wurkr. I believe Wurkr is a revolutionary platform that will change the way in which we operate. It will help companies rationalize their cost structure and yet allow employees to collaborate seamlessly and freely from anywhere. We are excited to partner with the company in its growth journey.”
Yan van de Velde – Angel investor, said: “I am excited to be able to invest in, and support, Wurkr and to be part of the revolution in the way we all work. We are in a new digital age and the world is still catching up with this new way of working – transitioning to the future of course comes with a lot of new challenges. Wurkr is helping businesses adapt to the future and is addressing these challenges to make remote working easier and more efficient for everyone, something that bigger players out there often overlook.”
Virtual workplace management platform
The work from home trend increased in recent years, thanks to the advancements in digital technology. This was further accelerated due to the COVID-19 pandemic crisis, thereby bringing about a more fundamental shift in the future of the workplace. It is estimated that 57 per cent of people want to continue working from home or another location.
Wurkr’s virtual workplace management platform replicates a physical office environment in the Cloud, backed by video technology. The solution is unique as it solves the productivity and isolation constraints associated with traditional ‘remote’ working models, thereby allowing distributed teams to work together in a fully engaged and collaborative way.
Debuted in 2018, Wurkr has expanded in the UK and Indian markets. It has 88,000 subscribers and 2,400 organisations use its product. Wurkr’s subscriber base has grown 1,000 per cent in one year.