Saltmine raises $20 mn from JLL Spark, Jungle Ventures

New Delhi: Saltmine, an end-to-end digital workplace platform, on Wednesday said it has raised $20 million (about Rs 144.8 crore) in funding that saw participation from JLL Spark, the strategic investment arm of commercial real estate services firm JLL.

Existing investors, Singapore-based Jungle Ventures and Xplorer Capital, also participated in the Series-A round. In addition to its capital investment, JLL has entered into an agreement to sell Saltmine's software directly to its customers, creating a powerful distribution channel for Saltmine's platform, a statement said. Founded in 2017 by Indian-origin Shagufta Anurag, the workspace management platform has grown to have global presence with offices in Asia, Europe and North America with headquarters in San Francisco.

It has more than 125 employees. The company is now looking at expanding its client base in India which remains a stable and attractive office-property market despite Covid-19 setback last year, a statement said. "With the new financing from the series A round, Saltmine will continue to invest in talent acquisition - with a focus on growing its sales, customer success, product and engineering team," it added. The company aims to accelerate its growth in Asia Pacific - particularly in markets like Australia, Hong Kong and Singapore. "Real estate is the second-largest cost for companies and has a direct impact on their largest cost - their people. We're thrilled to have the support of our investors who are committed to the creation of great workplace experiences," Saltmine founder and CEO Shagufta Anurag said.