SG’s Jungle Ventures backs $20m funding in workplace design firm Saltmine

Shagufta Anurag, Founder and CEO of Saltmine. Photo credit: Saltmine

Singapore-based venture capital firm Jungle Ventures has topped up its investment in Saltmine, the San Francisco-based digital workplace design platform that raised $20 million in Series A funding.

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.