SpacetoCo
Overview
SpacetoCo is a venue booking platform that connects hosts with people looking to hire spaces for various events. Founded in 2017 by Daniel McCullen, Jeremy Hurst, and Daniel Franco, this Perth-based startup has raised approximately $2.45 million to date. With its roots in Western Australia, SpacetoCo specializes in simplifying the process of hiring spaces by providing an online marketplace for short-term function space hire.
Recent Developments
- November 2024: SpacetoCo announced that it has raised $2 million from Purpose Ventures to support its expansion into the United Kingdom by 2025. The expansion is part of their strategic plan to grow their footprint beyond Australia and New Zealand.
- June 2024: In collaboration with the City of Cockburn, SpacetoCo won the "Best Use of Technology" award at the WA Parks and Leisure Australia Awards for enhancing the utilization of community venues.
- Early 2024: SpacetoCo integrated with various city councils in Australia and New Zealand to improve their community engagement through more efficient space booking processes.
- 2023: SpacetoCo presented at the World Leisure Congress in Dunedin, New Zealand, promoting efficient space provisioning.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | February 5, 2016 |
| Headquarters | Perth, Western Australia, Australia |
| Founders | Daniel Franco, Daniel McCullen, Jeremy Hurst |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | Purpose Ventures, BetterLabs Ventures, RAC's Betterlabs fund |
| Industry | Real Estate Services (B2C) |
| Number of Employees | 17 |
Early History
SpacetoCo was conceived in late 2015 when co-founder Jeremy Hurst explored the potential of sharing spaces on his property. This idea transitioned into a business when Hurst teamed up with Daniel McCullen and Daniel Franco. Officially launched in March 2017, SpacetoCo quickly established itself as a platform facilitating the short-term hire of spaces. Aiming to serve the community, the founders' backgrounds in education contributed to the company's user-centric business model.
Company Profile and Achievements
SpacetoCo operates as a marketplace platform, connecting those with underutilized spaces to those in need of short-term venue hire. The startup primarily serves the B2C sector within the real estate domain, streamlining the process for local councils and community centers. Significant achievements include:
- Successfully capturing 42% of the WA metro local government market and 10% of councils Australia-wide by offering efficient venue booking solutions.
- Expanding to New Zealand under managing director Elle Bell, and prepping to enter the UK market by 2025.
- Participating and securing investment during their appearance on Shark Tank Australia.
- Winning multiple awards for innovation, such as the best use of technology with the City of Cockburn.
Current Operations and Market Position
SpacetoCo continues to enhance community engagement by offering software that simplifies booking processes and maximizes space utilization. Their competitive advantage lies in catering to local councils, simplifying administrative burdens, and providing an intuitive user interface. The platform is well-positioned within the real estate services market with plans to widen its international presence.
Spacetoco Net Worth
As of January 2024, the founders' cumulative net worth was reported to be about $5.28 million. This reflects the company's consistent growth and successful fundraising efforts aimed at market expansion.
Spacetoco Kwinana
SpacetoCo's partnership with local councils, such as the City of Kwinana, has been instrumental in extending its footprint across national and New Zealand local governments, enabling efficient space booking and utilization.
Conclusion
SpacetoCo represents a notable player in the space-sharing economy, leveraging technology to create a hub for short-term venue hires. With recent investments supporting its international expansion plans, the platform is poised for significant growth. This expansion is set to further unite communities through shared spaces while improving resource allocation and city planning efficiencies.