Occupier is a commercial real estate management software company that enables tenants and brokers to collaborate throughout the entire lease lifecycle. Founded with a focus on user-friendly solutions, Occupier has developed a platform that centralizes lease management, streamlines lease accounting, and facilitates compliance with standards such as FASB ASC 842 and IFRS 16.
Company Overview
In August 2022, Occupier announced a $10.5 million Series A funding round co-led by Stage 2 Capital and OMERS Ventures, with participation from Alate Partners, MetaProp, and Second Century Ventures. This investment aimed to expand the company's team across engineering, product, sales, customer success, and marketing, as well as to enhance product development.
Occupier has established strategic partnerships with firms like Avison Young, NAI, and Embark Accounting to enhance the tenant and broker experience. The company serves over 130 clients, including notable names such as Amazon, Samsung, and JD.com.
Market Position and Competitors
Occupier holds a 0.04% market share in the "Other Vertical Industries Software" category, with more than 413 companies utilizing its software. Its primary competitors include QS/1 and Ventiv, with Ventiv holding a 3.53% market share.
Industry Trends and Insights
The commercial real estate sector has experienced significant shifts, particularly in response to the COVID-19 pandemic and evolving lease accounting standards. Companies are increasingly seeking flexible lease terms, with a notable preference for shorter lease durations and options such as space-as-a-service or shared-space arrangements. For instance, more than half of European and U.S. respondents in a CBRE survey expressed a desire for shorter lease terms for new or renewed spaces.
Additionally, there is a growing emphasis on integrating advanced technologies and sustainable practices within real estate portfolios. Occupiers are deploying technologies to automate workflows and operations, with 43% using AI primarily for lease administration. Sustainability initiatives are also gaining traction, with 57% of companies having net-zero targets and collaborating with landlords to achieve them.
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