US proptech company acquires Locatee

Tango, a leading provider of cloud-based real estate and facilities management software, has acquired Swiss proptech startup Locatee. With hundreds of customers across more than 140 countries, Tango is the leader in Store Lifecycle Management and Integrated Workplace Management System software.

Locatee’s workplace analytics solution provides a complete picture of occupancy, driving strategic portfolio decisions, improving operational space utilization. Locatee’s offices in Zurich will become Tango’s European headquarters serving the company’s international customers. The combined business will serve over 500 customers around the world.

“The complexities of managing a hybrid workplace mean that organizations are facing an imbalance in space supply and demand, with space utilization rates under 40% on average,” said Pranav Tyagi, President and Chief Executive Officer of Tango. “Organizations are actively seeking to better understand occupancy levels, however existing solutions are often disparate and cost-prohibitive, leaving them struggling to gain accurate insights. With the addition of Locatee, Tango provides a comprehensive, cost-effective solution that empowers them to address critical questions regarding actual occupancy and utilization.”

“We are pleased to join the Tango family and realize the maximum value of Locatee’s occupancy data and analytics platform,” said Benedikt Köppel, Founder & Co-CEO of Locatee. “Tango is a leader in the application of AI/ML in the built environment and Locatee adds a rich occupancy data set to the massive amounts of data Tango already analyzes.” Financial terms of the private transaction were not disclosed.

Outfitting an entire real estate portfolio with IoT sensors is not an option for even the world’s largest organizations. Locatee bridges the occupancy data gap by providing instant occupancy data leveraging existing investments in Wi-Fi and ethernet, dramatically reducing costs and delivering a holistic picture of space usage across the entire portfolio. “We are excited to combine occupancy data at the building, floor, and zone level with Tango’s industry leading space management and reservation solutions to provide customers with a complete picture of planned, forecasted and actual occupancy,” said Myriam Locher, CRO & Co-CEO of Locatee.

(Press release / SK)
Picture: Myriam Locher, Benedikt Köppel