A Fresh Bulgarian IT Company Stared Up With 800 000 GBP Initial Funding

Over the past five years, the Shared Spaces market has the surprisingly rapid pace of development. The traditional model “one company, one office” was completely overturned. Today, the shared offices that encourage the exchange of ideas between different teams are the preferred method of organization. This is evidenced by the sharp increase in the number of companies offering the service. WeWork, created in 2010, is the world’s largest share of shared jobs. The company is estimated at over $ 21 billion, and this year is also the largest landlord in North America.

The rapid penetration of shared workspaces into modern labor culture leads to the need for new office management tools. One of the leaders in the platforms for managing such spaces is the Bulgarian Office R & D, which this week has attracted 800,000 pounds of investment.

Idea born in Telerik

The founders of the start-up firm Miroslav Miroslavov and Miroslav Nedyalkov met during their work as developers in the software company Telerik (which is now Progress). The dynamic atmosphere there provoked them to rethink ways of organizing office space. Miroslavov observed the constant restructuring of teams for the purpose of creating new products: “In Telerik, there was a permanent, huge change in the different configurations, which inevitably led to a change in the organization of office space, which proved particularly difficult not only to navigate but and for understanding. “ Office R & D creators see ineffective office space management at Telerik. “The problem was not as much a human error as the need for an intelligent centralized system to help office managers work,” Miroslavov added.

With the support of Telerik’s creators, Miroslavov and Nedyalkov are starting to work on a software solution to facilitate and optimize space management. Today among the clients of the Bulgarian starter are some of the big players in the business. London Office R & D is used by Central Coworking — the shared office space that houses the companies of the prestigious TechStars accelerator. In the US, the platform is part of RocketSpace in San Francisco and works with Co + Hoots and DeskHub.

Natural growth

Thanks to such partnerships, the Bulgarian company does not invest in marketing. According to Miroslavov and Nedyalkov, the Office R & D clients themselves find it. Over one hundred co-branding brands use Bulgarian software in more than 250 locations on virtually every continent. According to Miroslav, the company responds to an existing market need. “This is the reason for the owners of shared office space to come to us, so it has happened to all our clients so far, our culture is such that we show everyone how much we care about the success of his business, we try to build a community around the product , and our goal is always to meet and respond to all user needs, “says the manager.

Miroslavov adds that the Office R & D culture, which puts the client first, is the main difference between the Bulgarian company and its global competitors: “The businesses that trust us really feel the different attitude we have, we have a very positive reputation. reaffirms our position as a market leader. “

When they create Office R & D, Miroslavov and Nedyalkov have no plans to compete with their competitors. “We focused on creating world-class software, the market niche was small, and the existing products were amateur, consumers were disappointed with the opportunities that helped us quickly enter the largest space for shopping,” said Miroslavov.

Fresh capital

The first investor in the company is the PiLabs real estate accelerator with 30,000 pounds. During the 13-week program, Office R & D team creates key industry contacts. “PiLabs constantly encouraged us to go out, meet people, tell them about their business, and get the most valuable opportunity to build our business on the basis of feedback from our mentors and advisers,” added Miroslavov.

After PiLabs in the company, he invested the LAUNCHub Ventures Fund, as well as business angels Vasil Terziev (one of Telerik’s founders) and Dimitar Kapitanov. The first round of the startup is 170,000 euros. The team uses it to hire five new employees in the business development, sales, and customer service roles. Last year, the company also won the start-up contest at the DigitalK Technology Conference, organized by Capital and the NEVEQ and LAUNCHub Ventures funds. For him, she received 10,000 euros.

The money from this year’s 800,000 pound round will be used to speed up the company’s growth. “We have validated the idea so far, and we are now quite sure what we are doing, precisely for whom and how,” Miroslavov commented. Office R & D will expand its team and sales. At present, most of the employees are in Sofia — seven.

In addition to LAUNCHub Ventures, business angels are also taking part in the new round. He also includes Constant Reader, owner of 12 spa spaces in Asia, and founder of one of the UK’s first gaming companies to sell millions for millions of years ago.

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