GorillaSpace clinches seed funding; capitalises on changing office-user demand

/ EdgeProp
June 15, 2019 11:00 AM SGT
There is a definite shift in the way companies in Singapore are planning their real estate strategy: moving away from a dependence on long-term rental commitments in favour of a greater proportion of flexible space in their portfolio.
Ben Eckblad and wife Ginny are co-founders of the two-year-old GorillaSpace (Picture: Albert Chua/EdgeProp Singapore)
“More companies are looking to flexible spaces as a viable complement to their long-term office footprint,” says Ben Eckblad, co-founder of GorillaSpace, an online marketplace for a variety of commercial spaces in Singapore, ranging from meeting rooms to traditional long-term leases. GorillaSpace was founded by Ben together with his wife Ginny.
GorillaSpace’s listing partners include Regus, Ascendas-Singbridge, JustCo, CapitaLand, Distrii Singapore, Keppel Land, Lendlease, The Work Project, and WeWork. It helps its listing partners to lease out their available office spaces. “We do that by helping them articulate how they are different from their competitors, and that is increasingly important in today’s market which has so much new stock in the pipeline,” says Ginny.
The platform operates under a dual system to manage its more than 2,000 unique office listings. About half of the listings are publicly available for viewing on its website. The rest only get served up when they match a company’s specific needs through the start-up’s matching service called GorillaMatch, which is curated, personalised and powered by an AI engine.
Distrii Singapore, which has its flagship co-working space in Republic Plaza, is another GorillaSpace listing partner (Picture: Samuel Isaac Chua/EdgeProp Singapore)
“The reason for the dual system is some of our listing partners – whether they are brokers representing clients, or institutional landlords with a lot of vacant space – don’t necessarily want the entire market to know how much space they have to lease,” says Ben.
Seed funding
GorillaSpace has attracted attention in the property industry. In May, the two-year-old start-up clinched an undisclosed amount of seed funding from Japanese property giant Mitsubishi Estate. This is the first time the Japanese developer has invested in a non-Japanese start-up at...