I serve on the board of this tech company that is quickly gaining traction with an impressive (and growing) list of Fortune 500 clients. ‘A-list’ companies are finding this cloud-based workplace analytics data so useful and so easy to implement that they are proceeding with global roll-outs across multiple offices worldwide.
This proves Basking’s scalability and provides a strong competitive advantage over other, clunkier alternatives. Such quick adoption is helping them become embedded in each company’s infrastructure, which is a powerful place to be and reminds me of how my previous startup was able to build out a developer ecosystem that skyrocketed Vungle to strong success as well.
Why Is It Needed
Eldar Gizzatov co-founded Basking in 2017, before the complications of the pandemic skyrocketed the market urgency. Together with his highly talented tech team, Eldar is amassing a client list of Fortune 500 customers that are already saving millions with the Basking solution.
Those clients operate across multiple industries and many geographies, including Cisco, HP Aruba, Comfy Siemens, and Westcon Comstor. Prior to co-founding Basking, Eldar was an Entrepreneur-in-Residence at Allianz Digital Accelerator, where he founded FairFleet360.com—the drone services marketplace for real estate and insurance industries.
Colliers, a leading commercial real estate brokerage and investment management company, is both a partner and a client of Basking. This sends a strong message of confidence and caused some of my LPs in the office industry to invest more because they were so impressed with the offering.
Collier used Basking’s space utilization analysis to inform their recommendations regarding the additional of 150 employees without increasing rent in the costly London real estate market. With this strategy, they saw an incredible €1 million in savings. As a result of that success in the UK, Basking was deployed across 65 Colliers offices globally and has been assisting in occupancy monitoring and social distancing compliance throughout the pandemic.
For another company, Basking’s data provided nearly $8 million in additional revenue by optimizing expensive and underused locations. Similarly, Baskings partnered with another client who used their data to understand alternative use cases for an unused office space that resulted in $400,000 in rent cost avoidance while at the same time increasing employee productivity. Those are game-changing numbers in any market moment but especially so in the landscape of COVID-19.
What It Is
- COVID response
- Portfolio right-sizing
- Space planning
- Real-time management
- Demand forecasting
- WFH (work-from-home) and mobility
- Amenities development
- Facilities management
The benefits of having this information at hand can’t be overstated. Beyond helping professionals visualize and understand space usage and density in real-time, these insights help companies easily monitor adherence to physical distancing requirements and engage with the effectiveness of their return-to-work protocols. This is the kind of visibility that will see early success as a COVID-era response and sustained use as a better way to understand our post-COVID workplace.
How It Works
With Basking’s proprietary machine learning algorithms, that data is then converted into relevant and actionable metrics and insights for real estate professionals as well as corporate executives. Basking successfully leverages the resources that already exist in the real estate sphere to offer useful information in a cost-effective way, avoiding the sunk costs of hardware installation.
The Basking Advantage
Other competitors in this space, like Vergesense or Density, have raised a great deal of venture capital and have gotten a lot of attention but Basking’s tech is fantastic because for those who want a simple solution, they can eliminate hardware-intensive data-gathering and for those who remain convinced of their uses, Basking can work alongside those hardware solutions. Basking is also like Vungle in that they can build out a developer ecosystem like I did with Vungle, and can become infrastructure.
Security Comes First
In addition, it randomizes device information at the network level. Basking provides GDPR- and CCPA-compliant occupant privacy protection while delivering immediate cost savings and cost avoidance recommendations.
Why So Fast, And Why Now?
With my focus on PropTech, I have looked at soo many companies in this space, and this is the one I’m excited about.. Their highly-scalable solution is intent on helping companies optimize real estate usage and improve work environments, and it’s intersecting the market at a time when those are inevitably the top two priorities of any real estate professional and employer that’s navigating this new market.
Similar to ad exchanges and Data Management Platforms (DMPs) in advertising, Basking equips decision-makers with the critical data they need to make highly informed decisions about supply and demand of the workstations available to employees on a daily basis. Informing office footprints and identifying cost savings, I believe Basking’s clients will quickly win the post-COVID market and become an understood bit of infrastructure. Soon, no one will be able to imagine making these decisions in any other way, cementing Basking as a pillar of the post-pandemic workplace.