Hofy, a London, UK-based company that supplies office equipment to remote workers, closed a $15 million Series B funding.
CNP led the round, with participation from Stride, 20VC, Day One Ventures, Kindred Capital, Asset, and TrueSight.
The new capital will be used to expand Hofy's service to more countries while also expanding its IT services range.
"We wouldn't exist without the pandemic and generally it accelerated remote work by 20 years, which created a huge market opportunity for this solution. Right now, our growth comes from our existing customers hiring more employees," Sami Bouremoum, Co-founder and CEO, said. "Initially, Hofy was going to raise a larger round in early 2022, but since then, we've built a business that's cash flow positive and doesn't require huge amounts of VC dollars to scale. This way, we don't dilute existing investors and employees."
Hofy plans to grow its team from 95 employees to 120 by the end of the year.
Company: Hofy Ltd.
Raised: $15.0M
Round: Series B
Funding Month: September 2022
Lead Investors: CNP
Additional Investors: Stride, 20VC, Day One Ventures, Kindred Capital, Asset and TrueSight
Company Website: https://www.hofy.com/
Software Category: Remote Workforce Equipment Management Solution
About the Company: Founded in 2020 to assist organizations in transitioning from an office-first to a remote-first way of working. Hofy is a developer of a remote work management platform designed to help businesses manage employees working from home. The company's platform enables clients to pre-approve home office products, set team budgets, audit equipment requests, track deliveries, and arrange collection. Businesses can efficiently scale remote work and reduce employee absenteeism by reducing time-consuming administrative procedures. When integrated with an HR system, Hofy can be used to set rules such as budgets and usage policies. It provides an API that enables HR vendors to deliver and recover hardware as a managed service. Hofy, available in 110 countries, handles corporate equipment orders and shipments.
Source: https://techcrunch.com/2022/09/28/hofy-lands-15m-to-help-companies-remotely-manage-enterprise-equipment/