Highland leads $30m series-A for Condeco

As part of the deal, the GP acquired a minority stake in the company. According to a statement, the company aims to use the fresh capital to boost its expansion across the US, Europe and Asia through strategic acquisitions, as well as to bolster its product development.

According to a source close to the situation, Condeco engaged KPMG in the summer of 2015 to explore funding opportunities. Highland won the final bid over 25 potential investors. As part of the deal, two representatives from Highland will join the company's board to support the business through its acquisition plans.

More recently, the company acquired its US-based competitor myVRM to boost the digital communication services offered by its products.

Highland Europe launched in 2012 when it spun out from US-based venture capital house Highland Capital Partners. Currently, the GP operates as a separate venture capital firm focusing on the European market. It manages €580m in assets across two vehicles.

Company
Condeco's products include software and hardware that enable companies to manage their workspace and improve meeting-room scheduling. Founded in 2005, the company has a presence in 12 countries across the US, Europe, the Middle East and Asia, and employs a staff of 250.

Headquartered in London, the business generated £15m in revenues in 2015.

People
Highland Europe – Laurence Garrett (partner).
Condeco – Paul Statham (founder, CEO).

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• Expansion
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• UK / Ireland
• United Kingdom
• Highland Capital Partners
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