Dallas, TX, Sept. 21, 2023 (GLOBE NEWSWIRE) -- Appspace, the unified workplace experience platform, today announced a significant investment from Accel-KKR (Accel-KKR Capital Partners VI, LP, or “AKKR”), a leading technology-focused private equity firm. Accel-KKR joins LLR Partners as a financial backer. Both firms will combine their deep industry expertise and value creation resources to help accelerate Appspace's trajectory toward redefining the future of work.
As organizations implement and refine hybrid work models, they continue to struggle to keep employees connected and productive. Appspace delivers digital signage, an employee app, a modern intranet, space reservation, wayfinding solutions, and more – all in a single platform that more than 160 Fortune 500 companies and over 10 million employees rely on every day.
“For more than two decades, Appspace has been a leader in workplace communications and workplace management, offering the only software platform that bridges the gap between the physical and digital workplace,” says Tony DiBenedetto, Appspace CEO. “The AKKR investment allows Appspace to accelerate our product vision and roadmap to create better and more productive workplace experiences for today and tomorrow.”
Today’s workplaces are disjointed, with multiple apps and siloed tools. Organizations need new ways to keep employees engaged and informed. Appspace will use the investment to develop platform enhancements that help organizations remove friction from their return-to-office and hybrid work plans, while keeping employees connected to important information, whether they’re in-office, remote, or on the frontlines.
This investment will help accelerate:
- AI innovations across the platform to identify productivity declines, manage attrition risk, maximize office space utilization, engage and retain high-potential employees, address onboarding inefficiencies, and automate improved communication campaigns,
- Connections to Internet of Things (IoT) devices to deliver better insights on indoor air quality (IAQ) and capacity management, enabling organizations to meet their environmental and safety goals more easily,
- Deeper integrations with technology partners like Microsoft and Google.
“With millions of users around the world, Appspace helps global organizations navigate new ways of working, and the team’s commitment to elevating the workplace experience is unmatched,” said Dean Jacobson, Managing Director at Accel-KKR. "Our investment presents more opportunities for Appspace to explore innovation and advance its platform for Fortune 1000 companies and other organizations looking to elevate the workplace experience.”
“Since investing in Appspace in 2019, the company has grown significantly by delivering a single platform that simplifies the way organizations keep their employees engaged,” adds David Reuter, Partner at LLR. “This presents a great opportunity to work alongside Accel-KKR and the Appspace team to further Appspace’s innovation and global profitable growth.”
About Appspace
Appspace is the first workplace experience platform to connect people, places, and spaces through digital signage, space reservation, an employee app, a modern intranet, and more. Now, organizations can replace disjointed tools and unite their digital and physical workplaces with a single platform that makes work an experience everyone loves. That’s why more than 160 Fortune 500 companies, and 10 million on-site, remote, and frontline employees rely on Appspace every day. Learn more at www.appspace.com.
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London, and Mexico City. Visit accel-kkr.com to learn more.
About LLR Partners
LLR Partners is a private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to identify and execute on key growth initiatives and help create long-term value. Founded in 1999 and with more than $5 billion raised across six funds, LLR is a flexible provider of equity capital for growth, recapitalizations and buyouts. Learn more at https://www.llrpartners.com/.
