JAKARTA, Indonesia, May 27, 2019
JAKARTA, Indonesia, May 27, 2019 /PRNewswire/ -- Greenhouse, an integrated solution provider empowering businesses to expand in fast growth markets with curated B2B services and sustainable workspaces, has raised S$3.8 million in their latest bridge round funding. This is Greenhouse's second round of funding after the seed round in 2017, which raised S$1.7 million.
This round was led by 14 angel investors consisting of 7 new investors and 7 previous seed round investors, including Dilip and Deepak Chugani of KNS Group, an Indonesia-based conglomerate.
Drew Calin, CEO and Co-Founder of Greenhouse, expressed that, "We're very fortunate to have a group of experienced angel investors, who can contribute value far beyond their monetary investment."
So far, Greenhouse has attracted investors from various countries like Singapore, Australia, Indonesia, and the United States, and from various backgrounds including real estate, tech, finance, logistics, accelerators, and VCs.
Drew further explained, "Many of these investors were also in the seed round, including two of our founders and our lead investors. This demonstrates their confidence in our ability to deliver on our vision, and their continued commitment to support us in this pursuit."
Greenhouse aims to instill a culture of sustainable business development in markets across Southeast Asia. Through this new funding, Greenhouse will expand its capabilities in helping foreign companies enter, and local companies scale, within fast growth markets like Indonesia, the Philippines, and the rest of Southeast Asia.
"Greenhouse was founded to simplify the required processes for entry and growth within these markets by increasing transparency, efficiencies, and ultimately minimizing risks. We do this by building and managing a network of high quality B2B service providers, who offer services like incorporation, visa services, payroll, tax/legal advice, and recruitment - to name a few," Drew explained.
Greenhouse is currently further expanding its network of partners across Asia, and building a tech platform that will more efficiently connect businesses who wish to expand in local markets with B2B service providers who can support that expansion.
Vicknesh R. Pillay, Co-Founder of Greenhouse, explained, "We'll be launching Greenhouse Connect, our tech platform, in Q2 of 2019. Our initial rollout will offer basic registration services for companies looking to launch in Indonesia, but will expand to six B2B services across as many markets by the end of the year."
Vicknesh continued, "Those markets include Indonesia, the Philippines, Singapore, Vietnam, Thailand, and India, and will position us to help companies more efficiently and effectively enter and scale their businesses, with less impact on time or capital."
Besides these services, Greenhouse also provides businesses with fully-serviced coworking and office spaces in select markets. They will be expanding their coworking business across Jakarta and into Manila this year, and across a few other strategic markets in SEA, next year.
The first Greenhouse coworking space was launched in Multivision Tower, Kuningan, South Jakarta in 2018. Since then, this location has succeeded in growing revenues 57% quarter over quarter, while being recognized as the best coworking space startup in Indonesia (by the Rice Bowl Startup Awards in 2018).
According to Vicknesh, that the bridge round funding will partly be used to expand Greenhouse's coworking brand across Southeast Asia. He stated, "We're currently negotiating on five new spaces across Indonesia and the Philippines, while also exploring options in Singapore. We plan to launch two to three new properties in 2019 and we're investing in new talent to support these expansions."
Greenhouse will build on its success in 2018 through these diversified revenue streams, which will help them in completing a planned Series A fund raise in 2020.
Greenhouse is an integrated solution provider that provides coworking spaces and business support networks for companies, SMEs, startups, freelancers and more. Greenhouse aims to help promote sustainable businesses by creating a working environment that connects to nature and builds an ecosystem which designed for growth and wellness. Greenhouse also provides both local and international companies with an end-to-end service in order to ease their entry and success in fast growth markets.
The first Greenhouse location opened in February 2018 at Multivision Tower (Kuningan Mulia Lot 9B, Central Jakarta) that caters for 228 seats. Companies such as Apple, Google, Instagram, ZenDesk, Nestle, LinkedIn, and many more have chosen Greenhouse for their events or as their day to day office space. For more information about Greenhouse: https://greenhouse.co/.