New York City-based on-demand office services startup Managed by Q just acquired another office management startup, Hivy. This is the first-ever acquisition for the four-year-old company which started as a kind of Uber for office cleaning and has grown into an office operations platform including administration, IT, security, cleaning, and maintenance. Propelled by $72 million in venture capital funding, the fast-growing company currently employs almost 1,000 employees nationwide.
With the acquisition of Hivy, all of Managed by Q’s clients will now receive access to a SaaS product for office operations teams to easily collect employee requests, manage projects, and gather data to anticipate office needs. Created within eFounders startup studio in Paris by Y-Combinator graduates Pauline Tordeur and Pierre-Alain Loiseau, Hivy’s technology allows employees to send requests to their office operations teams, who can manage tasks from snack replenishment to IT support and accumulate data to support their workplace planning.
“We set out to optimize the daily operations of office managers, and Managed by Q is the perfect partner to accelerate toward that vision,” said Tordeur. “The breadth and quality of service providers on their marketplace, as well as their expertise in workplace management across offices of all sizes and sectors, will ensure offices receive high-quality service after requests are made through Hivy.”
Dan Teran, CEO and Co-Founder of Managed by Q said that after sitting with dozens of Hivy clients to understand how they use the product, he knew this was an experience he had to provide for his customers. “With a global footprint and a presence in large offices on every continent, Hivy is the perfect complement to what we are building at Q on our mission to make it easy to run an office,” added Teran.
One of those customers was SeatGeek. Jack Groetzinger, CEO and Founder of the event ticket search engine said, “Hivy and Managed by Q have become integral to our workplace operations and employee experience. This kind of technology ensures that our team’s needs are met in real-time and that only outstanding service providers are fulfilling those needs, saving us time and money. The acquisition seems like a natural fit, and we’re excited to see what comes next.”
Tordeur and Loiseau will join Q’s product and engineering team in New York. According to Teran, Managed by Q is not actively looking to make additional acquisitions but like many real estate technology insiders, he does expect to see more consolidation in the real estate technology space soon.