US-based office maintenance services provider Managed by Q has received $25m in series C funding in a tranche co-led by GV, a corporate venturing subsidiary of internet and technology conglomerate Alphabet
Venture capital firm RRE Ventures co-led the tranche, which included property developer DivCo West, real estate investment and management group Oxford Properties and private investors Scott Belsky and David Stern. The company’s series C round now stands at $55m.
Founded in 2014, Managed by Q runs an online platform that connects businesses with vetted service providers who can fulfil office management tasks such as cleaning, maintenance, administration, IT and security.
Although it did not specify plans for the funding, Managed by Q CEO Dan Teran said in a blog post announcing the round: “We think the human centred workplace is a trend to watch in 2019, so we are building technology to elevate the human experience through Q.”
The company raised $30.5m in a December 2016 first close, according to a regulatory filing. GV also participated in a $25m series B round in April the same year that was led by Kapor Capital, the VC representative of diversity-focused tech inclusion organisation Kapor Center for Social Impact.
RRE Ventures led Managed by Q’s $15m series A round the year before, investing alongside Steadfast Financial, Greycroft, Homebrew, Sherpa Ventures, SV Angel and various angel investors.
Managed by Q had received $1.7m in seed capital from RRE, Homebrew and various angel investors in 2014, after Slow Ventures and various angel investors had provided $780,000 in seed funding the year before.