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HeadBox closes £1.4m oversubscribed fundraise

Online platform 40 per cent oversubscribed in latest funding round as it plots expansion into major global cities
10/02/2017

Pictured: Andrew Needham, HeadBox CEO

HeadBox, the online marketplace for meeting spaces, has just closed its latest fundraise of £1.4 million, after exceeding targets by 40 per cent.

HeadBox will use the latest funds to further accelerate its growth in the UK and to prepare its roll-out of the platform into other major cities around the world.

New investor Johan Svanstrom, global president of Hotels.com, said: “HeadBox offers a fast, simple and innovative solution to an age-old problem of finding and booking unique spaces for work related events. It has the potential to be the leading online marketplace for creative and inspiring event spaces – both in the UK and internationally. I can see the platform has the ability to leverage a number of additional revenue streams to those it is already proving. It has extraordinary commercial potential.”

The fundraise follows a strong period of growth for the platform since its full launch out of Beta last year. In 2016 HeadBox added Manchester, Birmingham, Bristol and Liverpool to its London base. In the last six months HeadBox bookings have grown by 400 per cent; its website traffic has trebled and the number of venues has doubled to more than 4,000 spaces. The platform now has the largest collection of venues in London and across the UK, unlocking value from under-utilised space as well as providing many space owners with an extra revenue stream.

Andrew Needham, HeadBox CEO, said “We aim for HeadBox to be the global go-to platform for bringing people and spaces together all in one place to make brilliant things happen. We want to change the way people think about space, unlocking people’s imagination to the different uses and applications of space and what incredible things can be created, made, experienced and achieved within the right space.”

Along with Svanstrom, new investors include Sir Brian Williamson CBE, former chairman of Electra Private Equity and currently chairman of R.J Fleming; Jeremy Thompson, CEO of Cision (EMEA & India); Matt Isaacs, founding partner and executive chairman of Essence; and Wild Blue Cohort, a network of private ‘angel’ investors.

They join a line up of existing shareholders that includes Ralph Kugler, former main board director of Unilever and chairman of Cognita Schools; Martin McCourt, former CEO of Dyson; Andy Cosslett, previously CEO of InterContinental Hotels and operating partner of Advent Private Equity; Aaron Simpson, co-founder and CEO of Quintessentially Group; and Nick Wheeler, CEO of Charles Tyrwhitt Shirts.

HeadBox’s client list to date includes companies such as Google, BBC, Dentsu Aegis, Diageo, JC Decaux, BBH and L'Oréal.


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