In a dynamic leap towards reshaping the future of meeting and conference spaces for the post-pandemic business world, Zurich-based Memox has secured a significant €2.8 million in Series A funding. This funding round, led by Swiss Prime Site, 41 Group, and a consortium of key players spanning the real estate, technology, and investment banking sectors, marks a pivotal moment in Memox's journey. Following the successful launch of 14 innovative spaces in the first half of the year, Memox's portfolio now boasts an impressive 31 spaces across six venues in three distinct cities. The infusion of capital not only strengthens Memox's foothold in the DACH region but also propels the company towards a projected break-even point in 2024.
Founded by visionary Dirk Dr. Reiner in 2016, Memox operates at the cutting edge of the evolving business landscape. Its mission is clear: to provide state-of-the-art solutions that address the unique challenges of the post-pandemic world. Memox combines creative space concepts with top-notch technological infrastructure to foster innovation and streamline communication. Their spaces are meticulously designed, offering exceptional functionality for workspaces, team sessions, training sessions, and meetings.
Presently, Memox boasts a presence in Zurich, Basel, and Frankfurt, with each location proving to be both profitable and integral. These venues collectively generate annual revenues exceeding €7 million. Remarkably, 95% of all DAX and SMI companies already utilize Memox's unique and innovative Meeting & Conferencing Services, a testament to the demand for their tailored solutions. In fact, many landlords actively seek out Memox's distinctive servitization levels to enhance the appeal of their office buildings.
What sets Memox apart is its comprehensive approach. Customers can access everything required for the seamless planning and execution of meetings and events from a single source. This all-encompassing, worry-free solution includes distinctive meeting spaces, cutting-edge technology, delectable catering, and attentive personal support.
But Memox's commitment goes beyond the meeting room. For those seeking more than what the hosting package entails, Memox leverages its deep knowledge of the city to arrange overnight stays at partner hotels, orchestrate a range of supporting program options, and much more. With a handpicked pool of over 300 presenters, all rigorously vetted by their team, Memox ensures every event shines.
Dr. Dirk Reiner, CEO of Memox, reaffirms that the company's trajectory is set for expansion. He shares, "Memox is already gearing up for a second funding round to support further market entries in Germany and Switzerland. With current shifts in the world of work and the real estate landscape, Memox is ideally positioned to seize the market."