Vertex in the News | 2001

WorkplaceIQ Raises $13 million
Author: Shlomy Golovinski
TheMarker.com, Jun 6, 2001

Online corporate real estate management service provider WorkplaceIQ is completing a $13 million financing round, out of which the American-based firm Octane Ventures has invested $10 million.

WorkplaceIQ develops solutions for the management, planning and maintenance of real estate assets. The company, formerly known as Vicusoft, was founded in 1991 by its current president, Giora Shaked. The company`s CEO is John Fleming. WorkplaceIQ`s headquarters are situated in Waltham, Massachusetts, and its development site is in Bnei Brak, Israel.

The company employs a staff of 120. Its investors include Genesis Partners, Infinity, Vertex Management Israel Sadar, and Clal Industries & Investments.

The company is involved in joint ventures with software giants Microsoft (Nasdaq:MSFT) and Orkal.

Octane Ventures is developing a platform for linear transactions for real estate services.

WorkplaceIQ previously raised $8 million in November 1999, and $4 million in November 1998.

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