MassChallenge Alum Rifiniti Lands $1.9M to Help Businesses Put Their Space to Better Use (BostInno, March 11, 2014)

Gillis Bernard, Business and Tech Writer, Streetwise Media

Boston-based startup and MassChallenge 2013 finalist Rifiniti announced on Tuesday that it has raised $1.9 million in funding to help big companies put their extra space to better use.

The financing was led by Nauta Capital, with participation from local angel investing group Hub Angels and other Boston angels, reports BetaBoston. Rifiniti plans on the putting the newfound capital towards developing its workplace optimization analytics and bringing on more clients.

Founded in 2012, Rifiniti is placing a bet on big companies’ excess space, freed up from mergers as well as the transforming world of work. According to the startup’s site, roughly 50 percent of office space is underused. Trends in telecommuting and mobile tech have diminished the need for people to stay tied to their employers’ offices. By analyzing their current space with Rifiniti, companies are empowered to then decide whether to enhance their offices or if their digs need a downsizing.

The company currently has three large, paying customers in the IT space, according to the report. Rifiniti has a team of five working out of MassChallenge’s space in the Seaport.

Image via The Cool Hunter

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