Jungle Ventures participated in the latest funding round along with JLL Spark, the strategic investment arm of commercial real estate services firm JLL, and existing investor Xplorer Capital, according to an announcement.
Notably, JLL is not only investing in the Series A round but has also agreed to sell Saltmine’s software directly to its customers.
Saltmine, founded in 2017 by Singapore-based Shagufta Anurag, provides a platform for companies to create spaces for employees. It digitises and streamlines the office design process, thus reducing real estate and design project costs.
“Real estate is the second-largest cost for companies and has a direct impact on their largest cost – their people… we enable our customers to digitally transform and optimise their portfolio and bring employees safely back to work in a space that supports the future of work,” Anurag, who is also the firm’s CEO, said.
Anurag was also the founder of Space Matrix, a larger interior design firm in Asia, and Livspace, a digital home interior design company.
The startup claims to have more than 35 customers, including PG&E, Snowflake, and Workday, among others. It has about 125 employees in five offices, in San Francisco, Washington D.C, New York, Singapore, Ho Chi Minh City, and Budapest.
Saltmine said it will use the new financing to further invest in talent acquisition, focusing on bumping up its Singapore team and have 170 employees by year’s end. It also plans to widen its footprint in markets like Australia, Hong Kong, and India and then expand its portfolio of Global 2000 companies.
Commenting on the investment, Jungle Ventures managing partner David Gowdey said Saltmine’s workplace design software will help large enterprises safely bring employees back into the office, using smart technology.
Last year, the VC firm also led the $10 million Series B funding in Bengaluru-based Betterplace, a tech platform for blue-collar workforce management that seeks to expand in India and Southeast Asia.